Kirkland’s brings on consultant to chart store opening path
As Kirkland’s Inc. maps out a store opening strategy for Bed Bath & Beyond curated stores as well as its Kirkland’s Home banner, it will have outside assistance.
Boston – As Kirland’s maps out a store opening strategy for Bed Bath & Beyond curated stores as well as its Kirkland’s Home banner, it will have outside assistance.
Gordon Brothers, the global asset firm, announced it will provide real estate consulting services in support of Kirkland’s Inc.’s store growth strategy following the payoff of the firm’s $12 million term loan.
The 325-unit home décor and furnishings retailer brand last month formed a partnership with Beyond Inc. to become the exclusive brick-and-mortar operator and licensee for smaller format Bed, Bath & Beyond locations nationwide.
An initial five “neighborhood format” physical stores are to open in 2025 with footprints in the 7,000- to 15,000-square-foot range. There is also a non-exclusive license in the deal for shop-in-shops under the Bed, Bath & Beyond nameplate at yet-to-be-determined Kirkland’s locations.
Gordon Brothers will support the collaboration and assist with the Kirkland’s own growth strategy across brands, providing lease renewal services and new store site selection
“In addition to leveraging our deep asset expertise to provide Kirkland’s with financing to pursue its strategic initiatives, our real estate team’s cutting-edge technology platform will provide the customized service offerings needed to achieve this next phase of growth,” said said Kyle C. Shonak, senior managing director, transaction team & head of North America lending at Gordon Brothers.
Kirkland’s CFO Mike Madden described Gordon Brothers as “an integral partner in our transformation efforts.”
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