Brigade, Arbour Lane and Anchorage Assume Majority Ownership of Gabe's in Recapitalization

August 26, 2025

Gabe's, a Morgantown-based off-price retailer, closed a recapitalization where existing term lenders converted over 75% of outstanding term loans into equity and a group of existing investors (led by Brigade Capital Management, Arbour Lane Capital Management and Anchorage Capital) assumed majority ownership. The transaction provides new capital, reduces debt, and is supported by continued ABL financing from Second Avenue Capital Partners and Ares Credit funds while Gabe’s finalizes vendor and landlord agreements to strengthen its store portfolio and operations.

Buyers
Brigade Capital Management, Arbour Lane Capital Management, Anchorage Capital Group
Targets
Gabe's (Gabriel Brothers)
Sellers
Existing term lenders / existing investors
Industry
Retail
Location
West Virginia, United States
Transaction Type
Recapitalization

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