TJX draws down $1 billion under revolvers as stores shuttered

By Wendy Van Sickle

Columbus, Ohio, March 19 – TJX Cos., Inc. is drawing down $1 billion from its revolving credit facilities as part of its response to rapidly changing market uncertainty from the Covid-19 pandemic, according to a news release on Thursday.

The company said the measure is one of several it is taking to further strengthen its financial position and balance sheet and maintain financial liquidity and flexibility as the company closes all of its stores in the United States, Canada, Europe and Australia for two weeks, as well as its online businesses tjmaxx.com, marshalls.com and sierra.com.

The retailer of off-price apparel and home fashions is based in Framingham, Mass.

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