Birks Group receives $33 million loan for more stores and new merchandise

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Birks Group has received a new loan totaling $33 million from Crystal Financial in order to open new store locations as well as bring in new merchandise and remodel current shops.

The Canadian jeweller’s second lien term loan will refinance an existing term loan from Crystal Financial.

In a statement to JCK, Managing Director at Crystal Finances Rebecca Tarby says, “The management team has demonstrated a commitment to enhancing the company’s performance, and we look forward to working with them as they achieve their goals.”

Birks Group is a designer, manufacturer and retailer of jewellery, timepieces, silverware and gifts, with stores and manufacturing facilities located across Canada and the United States.CJ

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