“Belk has a 130-year legacy of providing quality products at great prices,” said Belk CEO Lisa Harper. “Like all retailers navigating COVID-19, our priority has been the safety of our associates, customers, and communities. As the ongoing effects of the pandemic have continued, we’ve been assessing potential options to protect our future. We’re confident that this agreement puts us on the right long-term path toward significantly reducing our debt and providing us with greater financial flexibility to meet our obligations and to continue investing in our business, including further enhancements and additions to Belk’s omnichannel capabilities.”
Go to the news source: Belk to file for bankruptcy, enters agreement with majority owner to reduce debt
