Rocky Mountain Chocolate Factory Completes $6.6 Million Sale-Leaseback Transaction
Rocky Mountain Chocolate Factory (RMCF) has executed a sale-leaseback deal for its Durango, Colorado property worth $6.6 million. The transaction is intended to repay an outstanding promissory note of the same amount that carries a high interest rate of 12%. By doing so, RMCF aims to reduce debt and potentially improve financial flexibility. The company will retain use of the facility under a lease agreement following the sale. This move reflects strategic efforts by RMCF to manage its capital structure amid ongoing operational challenges in the retail confectionery sector.
Tickers: $RMCF
Topics: debt repayment real estate sale-leaseback