Genesco reduces revolving commitments to $275 million via amendment

By Wendy Van Sickle

Columbus, Ohio, Feb. 5 – Genesco Inc. entered a first amendment to its fourth amended and restated credit agreement on Feb. 1 that decreases total commitments and total domestic commitments to $275 million from $400 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also permits the sale of the outstanding shares of capital stock of Hat World, Inc., as well as the right, title and interest in some properties, assets and contracts related to the Lids Sports Group businesses of GCO Canada Inc. and Flagg Bros. of Puerto Rico, Inc. to FanzzLids Holdings, LLC for $101 million in cash.

Bank of America, NA is agent for the credit agreement.

Genesco is a Nashville-based retailer of branded footwear, licensed and branded headwear and licensed sports apparel and accessories.

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