Burlington Holdings files for IPO of up to $175 million
(Reuters) - Bain Capital-backed retailer Burlington Holdings Inc filed with U.S. regulators to raise up to $175 million in an initial public offering of common stock.
Burlington, a discount retailer operating 503 stores across the U.S., sells its clothes under brands such as "BCF" "Burlington Coat Factory" and "Baby Depot".
The filing did not reveal how many shares the company planned to sell, their expected price or the stock exchange where it wants to be listed.
Proceeds from the offering will be used to pay off its debt, Burlington said.
The Burlington, New Jersey based company, which was founded 40 years ago, reported a loss of $121.6 million on revenue of $4.16 billion for the year ended February, 2013.
JP Morgan, Morgan Stanley, Bank of America Merrill Lynch, Goldman Sachs and Wells Fargo Securities would underwrite the IPO.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Avik Das in Bangalore; Editing by Sreejiraj Eluvangal)
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