Ashley Stewart Secures $15M in New Financing

Ashley Stewart have secured financing to support growth initiatives under its new owners.

Tiger Finance has provided a $15 million revolving credit facility to the plus-size women’s apparel brand, which was founded in Brooklyn in 1991 and operates 72 stores nationwide and an e-commerce site. The financing enhances the company’s liquidity position and will support ongoing growth initiatives under new ownership.

The capital infusion follows the recent acquisition by G Ashley Inc. of Ashley Stewart’s assets through a UCC Article 9 sale, which allows for a foreclosure sale after a default. The new capital will support inventory procurement, supply chain continuity and omnichannel initiatives designed to improve both customer experience and margin performance.

“This revolving line of credit strengthens the company’s near-term liquidity profile and supports a disciplined restructuring process,” said Andy Babcock, senior managing director, Tiger Finance. “Our facility is designed to provide Ashley Stewart with the working capital flexibility needed to stabilize operations and position the brand for improved profitability. Our experience in retail and consumer strategic realignment gives us strong conviction in supporting businesses with durable brand equity and clear paths to operational improvement. Ashley Stewart fits that profile well.”

Added Sarika Gupta, CFO of Ashley Stewart: “This partnership underscores Ashley Stewart’s longstanding resilience and ability to reinvent itself through changing retail cycle”

“With added liquidity, the brand will accelerate ongoing transformation initiatives while staying true to its mission of serving and uplifting curvy women,” Gupta continued.