Jan 21, 2021
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About this Deal
Ever since the founding Belk family was smart enough to cash out and sell the southern-based department store chain to private equity in 2015 things haven’t worked out all that well for the company. Now come reports that its owners are looking to restructure its finances to keep it out of bankruptcy proceedings.
It throws the fate of the legacy company into a retail no-man’s-land where its debt load continues to weigh it down but without any real plan to fix its core problems. It is yet one more mid-market department store caught in the big squeeze impacting the entire retail sector.
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