$15 million Second Lien Term Loan
Sport Chalet (SPCH.A/SPCH.B) is a premier, full service, specialty sporting goods retailer. Founded in 1959, it currently operates 50 stores primarily located in California.
With the retail environment softening due to a challenging winter and increased competition, the Company sought a junior capital lender for incremental liquidity.
Crystal Financial SBIC LP provided a $15.0 million second lien term loan behind a nationally known money center bank. The term loan is supported by a borrowing base with incremental advance rates against the inventory, secured by a 2nd lien in all of the Company’s assets.