Sycamore Partners to Recapitalize, Retain Control of Belk

Belk said it has entered into a restructuring support agreement with its majority owner Sycamore Partners.

• Under the terms of the RSA, Sycamore Partners will retain majority control of Belk
• The retailer has received financing commitments for $225 million in new capital from Sycamore Partners, KKR and Blackstone Credit, and certain existing first lien term lenders

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