Monday, September 15, 2008

Jamba Borrows Big Bucks to Save the Company

By Chris Thompson
Mon, Sep 15, 2008 at 8:17 AM

Jamba, the Emeryville-based juice and smoothie company that has lost a fortune in recent months, put together a deal to borrow $25 million from Victory Park Capital Advisors to save it from going under. According to the East Bay Business Times, the interest rates on the deal are extremely high, undoubtedly reflecting the risk of investing in company with such terrible recent performance. But Jamba's leaders probably had no choice. Last quarter, the company lost almost $90 million and fired its own CEO and CFO.

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