Boston: Outside help will be provided as Kirland’s develops a plan for the opening of Bed Bath & Beyond-curated stores and its Kirkland’s Home label.
After paying off its $12 million term loan, global asset manager Gordon Brothers said it will support Kirkland’s Inc.’s store expansion strategy by offering real estate advisory services.
Last month, the 325-unit home furnishings and décor retailer brand partnered with Beyond Inc. to become the sole brick-and-mortar operator and licensee for smaller Bed, Bath & Beyond stores across the country.
In 2025, the first five “neighborhood format” physical stores with spaces ranging from 7,000 to 15,000 square feet are scheduled to open. The agreement also includes a non-exclusive license for shop-in-shops operating under the Bed, Bath & Beyond moniker at unspecified Kirkland’s sites.
Gordon Brothers, which offers lease renewal services and new store site selection, will support the partnership and help Kirkland’s own expansion strategy across brands.
“Our real estate team’s state-of-the-art technology platform will provide the customized service offerings needed to achieve this next phase of growth, in addition to leveraging our deep asset expertise to provide Kirkland’s with financing to pursue its strategic initiatives,” stated Kyle C. Shonak, senior managing director, transaction team & head of North America lending at Gordon Brothers.
Gordon Brothers is “an integral partner in our transformation efforts,” according to Kirkland’s CFO Mike Madden.
