Alex and Ani Has Restructured Its Debt
Alex and Ani has agreed to a new debt structure with its syndicate of lenders led by Bank of America, the company said in court papers filed Aug. 30. The assertion was made in a court filing that was part of the charm brand’s ongoing legal battle with KJ Brands, its former distributor for Australia, New Zealand, and Fiji. Alex and Ani’s income averages around $15 million a month, according to an affidavit from chief financial officer Andrea Ruda. The brand declined comment to JCK . Last month, Lyndon Lea, a founder of Lion Capital, the private equity firm that owns 40% of the company, voiced his support for Alex and Ani in an email sent to JCK by the brand’s public relations firm. “ Alex and Ani is a once-in-a-lifetime opportunity for any private equity firm,” Lea said in the statement. “It’s a brand with roots, with story, with principle, and with pride. It’s an American-made, female-founded company—honestly and humbly bo...