Canadian home goods and accessories retailer Linen Chest has secured a C$35m ($25.4m) revolving credit facility from Gordon Brothers, a retail-focused investor.
The funding will increase the omni-channel retailer’s liquidity and support its future growth initiatives.
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Gordon Brothers will also implement a vendor support programme to guarantee the ongoing operations and future strategy of Linen Chest.
Linen Chest CEO and co-owner Sheldon Liebner stated: “As a family-owned business, Linen Chest values partnerships with firms like Gordon Brothers who understand our history in the market and support our long-term vision.
“The firm’s solution provides us with the resources and flexibility needed to continue delivering value to our customers across Canada.”
Gordon Brothers lends against assets including brands, real estate, inventory, receivables, machinery and equipment.
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Gordon Brothers chief transaction officer Kyle Shonak stated: “Having grown and expanded our network in Canada and our support of proud Canadian retailers like Linen Chest, our financing will not only increase the company’s liquidity, but our deep asset expertise, retail background and additional service offerings will improve overall efficiency.
“Going forward, we will continue to deliver comprehensive lending solutions with our integrated services that align with long-term strategy and growth in the Canadian market.”
In December 2024, Linen Chest expanded its reach by partnering with Walmart Canada’s Marketplace. This collaboration enables Canadian consumers to access a selection of Linen Chest’s products through Walmart.ca, broadening their shopping options and introducing them to potential new favourites.
In 2023, the retailer invested in increasing customer experience and fostering brand loyalty by partnering with AI-powered omni-experience platform Digital Wave Technology.
