Candie's, Inc. (NASDAQ:CAND) today announced that its wholly owned subsidiary, Unzipped Apparel, LLC, which manufactures and sells Bongo jeanswear, signed an agreement with GE Commercial Services to provide Unzipped a $25 million revolving credit line.
The financing includes letters of credit, factoring services, and inventory and accounts receivable financing.
Hubert Guez, Chief Executive Officer of Unzipped, commented, "The new $25 million line provides Unzipped with $10 million more than it had under its prior line, and will be used to support Unzipped's ongoing growth and capital plans."
Source: Business Wire
