August 29, 2014 2:13 PM ET

Specialty Retail

Company Overview of Burlington Coat Factory Warehouse Corporation

Company Overview

Burlington Coat Factory Warehouse Corporation operates as a retailer of branded apparel in the United States. The company provides in-season and fashion-focused merchandise, such as ladies sportswear, menswear, coats, and family footwear, as well as baby furniture, accessories, home décor, and gifts; designer and fashion shoes; and baby clothing and other merchandise products. As of February 1, 2014, it operated 503 stores under the Burlington Coat Factory name; 2 stores under the Cohoes Fashions name; 2 stores under the Super Baby Depot name; 13 stores under the MJM Designer Shoes name; and 1 store under the Burlington Shoes name, as well as operated an Internet store in 44 states and Puert...

1830 Route 130 North

Burlington, NJ 08016

United States

Founded in 1972

Phone:

609-387-7800

Key Executives for Burlington Coat Factory Warehouse Corporation

Chief Executive Officer of Burlington Coat Factory Investments Holdings
Age: 61
Chief Accounting Officer and Senior Vice President
Age: 57
Chief Marketing Officer and Vice President
Age: 49
Vice President and Treasurer
Age: 60
Executive Vice President of Human Resources
Age: 59
Compensation as of Fiscal Year 2014.

Burlington Coat Factory Warehouse Corporation Key Developments

Burlington Coat Factory Warehouse Corporation Enters into Amendment No. 4 to its Credit Agreement

On August 13, 2014, Burlington Coat Factory Warehouse Corporation entered into Amendment No. 4 to the Credit Agreement, dated as of February 24, 2011, as amended on May 16, 2012, as amended on February 15, 2013 and as further amended on May 17, 2013 and as collateral agent, the lenders party thereto, J.P. Morgan Securities LLC, Goldman Sachs Lending Partners LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, as joint lead arrangers and joint book runners and J.P. Morgan Securities LLC, Goldman Sachs Lending Partners LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley Senior Funding Inc. and Wells Fargo Securities, as joint lead arrangers and joint book runners for the Term Amendment, governing the terms of BCFWC’s term loan facility. The parties to the Term Loan Credit Agreement have entered into the Term Amendment in order to, among other things, refinance and replace the outstanding $830,551,995 principal amount of term B-2 loans with $1,200,000,000 principal amount of term B-3 loans, enable BCFWC to redeem in full its outstanding 10% Senior Notes due 2019, make a distribution to Burlington Holdings, LLC to enable Holdings to redeem in full its outstanding 9.00%/9.75% Senior Notes due 2018, increase the available incremental amount from $150,000,000 to $400,000,000 plus unlimited amounts so long as BCFWC’s pro forma consolidated secured leverage ratio does not exceed 3.50 to 1.00, remove the following financial performance covenants: consolidated leverage ratio, consolidated interest ratio and capital expenditures, and give BCFWC and its restricted subsidiaries additional flexibility to make investments, restricted payments (including dividends), incur additional debt, grant liens and otherwise comply with its covenants under the Amended Term Loan Credit Agreement. The interest rate margin applicable under the Amended Term Loan Credit Agreement is 3.25% in the case of loans drawn at LIBOR and 2.25% in the case of loans drawn under the prime rate. The Term Amendment removed the variable pricing mechanism that was formerly in place, which was based on BCFWC’s pro forma consolidated secured leverage ratio. The Term B-3 Loans will mature on August 13, 2021, seven years after the Closing Date.

Burlington Stores, Inc., Burlington Coat Factory Investments Holdings, Inc. and Burlington Coat Factory Warehouse Corporation Announces Resignation of Mark Verdi as Director

On January 17, 2014, Mark Verdi provided written notice to the company of his decision to resign as a director of each of Burlington Stores, Inc., Burlington Coat Factory Investments Holdings, Inc. and Burlington Coat Factory Warehouse Corporation, such resignation to be effective immediately. The resignation of Mr. Verdi did not involve any disagreement with the company. Mr. Verdi is leaving Bain Capital to become the President of C&S Wholesale Grocers, Inc. effective March 1, 2014.

Burlington Stores, Inc., Burlington Coat Factory Investments Holdings, Inc. and Burlington Coat Factory Warehouse Corporation Appoint John Mahoney as Director and Member of the Audit Committee

The board of directors of each of Burlington Stores, Inc., Burlington Coat Factory Investments Holdings, Inc. and Burlington Coat Factory Warehouse Corporation increased the number of directors serving on the respective board of directors of each company from six to seven and, effective as of December 13, 2013, elected John Mahoney to each such board to fill each newly created directorship. In addition, the board of directors of each company appointed Mr. Mahoney as a member of the Audit Committee of each company.

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