On May 12, 2025, Kirkland's, Inc. announced the closing of a $5.2 million expansion of its existing credit agreement with Beyond, Inc. This upsized facility is intended to strengthen Kirkland's financial position, provide flexibility for general working capital purposes, and support the company's updated store conversion strategy.
In addition to the expanded credit facility, Kirkland's and Beyond have entered into a purchase agreement for the future sale of Kirkland's intellectual property to Beyond, Inc., subject to senior lender approvals. This move is expected to further monetize the Kirkland's Home brand through expanded distribution channels and build a brick-and-mortar presence for Beyond's portfolio.
Kirkland's also received waivers from both its lenders, Bank of America, N.A. and Beyond, for prior covenant non-compliance. The senior credit agreement with Bank of America, N.A. was amended to permit Beyond to acquire up to 65% of the outstanding capital stock of Kirkland's. This expanded partnership aims to accelerate the rollout of Bed Bath & Beyond Home and Overstock stores, and continue plans for buybuy Baby and Bed Bath & Beyond True Blue stores.
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