Peekay Boutiques Inc. is a.. specialty retailer with an emphasis on lingerie and sexual health and wellness products. The company operates 45 stores in six states, under the Lovers, A Touch of Romance, ConRev and Christal’s brands. The company was founded in 1981 by former owners Phyllis Heppenstall and Kris Butt... The company grew steadily over the next two decades and established itself as the leading lingerie and sexual wellness retail chain, catering primarily to women and couples. Today Peekay’s Lovers division consists of 23 stores in Washington and Oregon. In 2000, an opportunity to acquire A Touch of Romance, a chain of successful retail stores in Southern California, came to fruition. There are nine A Touch of Romance stores, located in Los Angeles, Orange, Riverside and San Bernardino counties. Another Southern California chain, ConRev, was acquired in 2004. Today there are four ConRev stores in Los Angeles and Orange counties. On Dec. 31, 2012, Peekay was acquired by GEM 1847. From LinkedIn profile.
BDC Credit Reporter View
Sexual wellness retail chain Peekay Boutiques has been in default on its debt since February 2016. Advantage Data (www.advantagedata.com) records show values began to drop off par back in the IIIQ of 2015. We first flagged the trouble in a post on March 16, 2016. Only one BDC has exposure to the Company: Harvest Capital (HCAP) with both a senior loan and a small equity position. The investments have been sharply written down as of June 2016. Renegotiation with the Company is underway, according to filings, but investments remain non-performing. BDC Credit Reporter expects anything from a partial Realized Loss or a complete write-off.