December 29, 2014 12:04 AM ET

Specialty Retail

Company Overview of Body Central Stores, Inc.

Company Overview

Body Central Stores, Inc. operates a chain of women’s clothing stores in the United States. The company offers tops, such as tanks and camisoles, sweaters and cardigans, blazers, blouses and shirts, jackets and coats, bodysuits, basics, crops, graphics, and vests; bottoms, including jeans, denim, pants, skirts, jeggings and leggings, and joggers; lingerie that includes panties, bras, intimates, and shapewear and accessories; and little black, sweater, maxi, and day dresses, as well as jumpsuits and rompers. It also provides sportswear; accessories, such as handbags, scarves, beanies, belts, and tights and legwear; jewelry that includes necklaces, earrings, bracelets, and rings; and shoes, wh...

6225 Powers Avenue

Jacksonville, FL 32217

United States

Founded in 1973

Phone:

904-737-0811

Fax:

904-730-0638

Key Executives for Body Central Stores, Inc.

Chairman of the Board and President
Age: 77
Vice President
Age: 75
Vice President and General Merchandising Manager
Age: 47
Employee Engagement Director
Compensation as of Fiscal Year 2014.

Body Central Stores, Inc. Key Developments

Body Central Corp., Body Central Stores, Inc., Body Central Direct, Inc. and Body Central Services, Inc. Enter into New Asset Based Credit Agreement

On February 6, 2014, Body Central Corp., and its subsidiaries, Body Central Stores, Inc., Body Central Direct, Inc. and Body Central Services, Inc. entered into a new asset based Credit Agreement, among the Loan Parties, the lenders from time to time party thereto, and Crystal Financial LLC (Crystal), as administrative and collateral agent. The company is a guarantor of the Borrowers' obligations under the New Credit Agreement. The New Credit Agreement provides for a $17 million senior secured credit facility, which includes a term loan facility of $12 million advanced on the closing date, a revolving credit facility of $5 million that was not drawn upon on the closing date and an uncommitted term loan facility of up to $7 million. The New Credit Agreement will mature on February 6, 2017. Proceeds of the Term Loan Facility were used to pay all amounts owed under and retire the Company's prior credit facility, to pay certain related fees and expenses, to fund working capital and for other corporate purposes. Borrowings under the New Credit Agreement will bear interest at the 90-day LIBOR rate plus 8.0%. The continuing availability of the loans extended under Term Loan Facility and the amounts committed under the Revolving Facility is subject to maintenance of specified borrowing base requirements. The New Credit Agreement is secured by substantially all of the Loan Parties' assets. The Loan Parties are subject to an unused facility fee of 0.50% on the unused portion of the Revolving Facility. An early termination fee of the greater of a make-whole amount and 3.00% applies if the Term Loan Facility is prepaid or if the commitments under the Revolving Facility are permanently reduced within the first year; a 2.00% fee is applicable if such a prepayment or permanent reduction occurs during the second year. Termination of BB&T Credit Facility: The New Credit Agreement replaces the Loan Parties' $5 million line of credit, dated as of January 20, 2012, and amended and restated as of March 6, 2013, among the Loan Parties and Branch Banking and Trust Company, which was set to mature on March 5, 2015. There were no material early termination penalties associated with the termination of the BB&T Credit Facility.

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