London Fog sells Pacific Trail, confirms DIP financing

New York – London Fog Group, parent of home textiles producer Homestead, has as planned in its "pre-packaged" Chapter 11 proceedings, successfully sold its Pacific Trail unit and will have its $40 million debtor-in-possession financing provided by Wachovia Bank.

The company sold its Pacific Trail outerwear business and related brands to Columbia Sportswear for $20.4 million plus "the assumption of certain services," the result of a public auction yesterday.

London Fog Group ceo David Greenstein said, "We believe the transaction is in the best interests of Pacific Trail … Columbia is the ideal company to continue building on the success of the Pacific Trail and related brands this season and going forward."

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HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!