Overview
ValueVision Media is a publically traded, multi-media retailer that sells products to consumers via digital platforms such as TV, internet and mobile.
The primary distribution channel is a TV shopping network called ShopNBC.
Challenge
After a series of annual losses, the board hired a new management team to implement an operational and strategic turnaround of the company.
Due to the nature of the business, the assets were considered "non-traditional" by many asset-based lenders.
Solution
Crystal's $25 million 1st lien term loan was secured by inventory, consumer installment receivables and real estate.
The new loan resulted in enhanced trade support and provided incremental liquidity for management to pursue their strategic plan.
