Skip to content

J.Jill (JILL) Stock Skyrockets After Transaction Support Agreement

Sam Boughedda trader
Updated 22 Mar 2021

OPEN DEMO TRADING ACCOUNT YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
J.Jill Stock price

Shares of retailer J.Jill (NYSE: JILL) have skyrocketed over 100% after the company announced that it has entered into a Transaction Support Agreement (TSA) with lenders…

The company said that lenders holding more than 70% of the company's term loans have entered into the agreement with the company on the principal terms of a financial restructuring.

The agreement will result in a waiver of any past non-compliance with the terms of the company's credit facilities and provide J.Jill with additional liquidity.

“J.Jill has been buoyed by a strong direct business and a loyal customer base, and the transaction proposed in this agreement will enable our company to emerge from this challenging stretch in a position of strength,” said Jim Scully, Interim Chief Executive Officer of J.Jill.

JILL stock price…

Source: TradingView

Shares of J.Jill surged after the news and are trading 167% higher at $1.03 shortly after US markets opened on Tuesday. Its share price is still down almost 66% for the year to date, however.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.Â