Fingerhut Gets $100M Credit Line

Share this content:
Fingerhut Direct received a $100 million senior secured line of credit, the company said yesterday.


"The money will be used to finance inventory and receivables and be used for general working capital," spokeswoman Mary Pernula said.


The credit consists of a revolving line of credit secured by inventory and a bridge loan for consumer installment receivables.


CIT Business Credit's Retail Finance Group acted as lead arranger and administrative agent.


Fingerhut's assets were acquired last year by Tom Petters and Ted Deikel. Their first catalog mailing took place Nov. 9. They are partners with Deikel serving as chairman. Six catalogs have been mailed in the first quarter of 2003.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above