Kirkland's, Inc. announced on May 12, 2025, the closing of a $5.2 million expansion of its existing credit agreement with Beyond, Inc. This upsized facility is intended to strengthen Kirkland's financial position, provide working capital flexibility, and support its updated store conversion strategy.
The additional capital will accelerate store conversion plans, prioritizing the rollout of Bed Bath & Beyond Home and Overstock stores, with plans for buybuy BABY and Bed Bath & Beyond True Blue stores. CEO Amy Sullivan emphasized leveraging these brand names to drive traffic, improve inventory turns, and raise store productivity.
In connection with this financing, Kirkland's received waivers from both its lenders, Bank of America, N.A. and Beyond, Inc., for previous covenant non-compliance. The senior credit agreement with Bank of America, N.A. was also amended to permit Beyond to acquire up to 65% of Kirkland's outstanding capital stock.
Furthermore, the companies entered into a purchase agreement for the future sale of Kirkland's intellectual property to Beyond, subject to senior lender approvals. This move aims to further monetize the Kirkland's Home brand through expanded distribution channels and build a brick-and-mortar presence for Beyond's portfolio.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.