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Sycamore Partners Reaches Agreement to Recapitalize and Retain Control of Belk Belk Stores and Business Operations Continue as Normal; Suppliers Unimpaired and Paid in the Ordinary Course Proposed Financial Restructuring Includes Reduction of Approximately $450 Million in Debt and Commitments for $225 Million of New Capital News provided by Share this article Share this article CHARLOTTE, N.C., Jan. 26, 2021 /PRNewswire/  Belk today announced that it has entered into a Restructuring Support Agreement (the RSA ) with its majority owner, Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, and holders of over 75% of its first lien term loan debt and holders of 100% of its second lien term loan debt on a plan to recapitalize the business, significantly reduce debt by approximately $450 million, and extend maturities on all term loans to July 2025. Under the terms of the RSA, Sycamore Partners will retain majority control of Be

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