FULLBEAUTY Brands Enters into Forbearance Agreements with Lenders

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Agreement in principle with key stakeholders will significantly deleverage balance sheet Company has liquidity to continue to meet all financial obligations and invest in long-term growth

November 9, 2018 9:23 AM EST

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NEW YORK, Nov. 9, 2018 /PRNewswire/ -- FULLBEAUTY Brands Inc. (the "Company"), today announced that it has entered into forbearance agreements with its asset-based lenders and first lien lenders. The Company and its advisors have been exploring solutions to strengthen the Company's business, deleverage its balance sheet, and achieve a more sustainable capital structure. These efforts have been successful, resulting in an agreement in principle with the Company's key stakeholders on the terms of a consensual transaction that will significantly deleverage its balance sheet and contemplates payment of the Company's trade partners in the ordinary course of business. The Company expects to complete the transaction over the next few months. The Company has adequate liquidity to meet its financial obligations to its vendors, suppliers, and employees while investing in long-term growth, and expects to continue making payments to these parties without interruption.

During this process, PJT Partners has been retained as investment banker to FULLBEAUTY, Kirkland & Ellis LLP has been retained as legal counsel, and AlixPartners has been retained as the Company's financial advisor.

ABOUT FULLBEAUTY BRANDS

FULLBEAUTY Brands Inc. is the fashion authority for plus-size women and men seeking fashion inspiration, style advice, and clothing tailored to their individual needs. Proprietary brands under the FULLBEAUTY Brands Inc. umbrella include: Woman Within®, Roaman's®, Jessica London®, Swimsuits For All®, Ellos®, KingSize®, BrylaneHome®, and fullbeauty.com®, an online marketplace that offers a curated collection of countless brands and thousands of products, serving as the premier fashion and lifestyle destination for women in sizes 12+.

FOR MORE INFORMATION

Steve Cohen or Rachel Posner, Teneo

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