Burlington Stores borrows $400 million on ABL to increase flexibility

By Sarah Lizee

Olympia, Wash., March 19 – Burlington Stores, Inc. borrowed $400 million on its $600 million asset-based facility earlier this week, according to a press release.

The borrowing was made as a precautionary measure in order to facilitate increased financial flexibility given the uncertainty regarding the potential duration and impact of the Covid-19 virus on the company’s store operations, the company said.

The Burlington, N.J.-based company operates a national chain of off-price retail stores through its wholly owned subsidiaries.

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