SALE-LEASEBACK AND DEBT	9 Months Ended
Oct. 31, 2015
SALE-LEASEBACK AND DEBT.
SALE-LEASEBACK AND DEBT	8.SALE-LEASEBACK AND DEBT Sale-Leaseback and Mortgage Facility Repayment On June 26, 2015, the Company entered into a sale-leaseback arrangement with an unrelated party. Under the arrangement, the Company sold six retail department stores for $84,000 and leased them back for a period of 20 years with three optional 10-year renewal terms. The basic rent payable in connection with the lease is $6,888 per year, subject to annual adjustments for increases in the Consumer Price Index with a 2% minimum increase and a 4% maximum increase each year. The leaseback has been accounted for as a capital lease, and the Company recorded a capital lease asset and obligation of $88,229 at the beginning of the lease term. The loss of $1,971 on this transaction was deferred and is being amortized to expense over the term of the lease. Proceeds from the sale-leaseback transaction, supplemented with borrowings under the Company’s senior secured credit facility, were used to pay the remaining principal balance of $104,538 on one of the two mortgage facilities due in April 2016. As a result of such prepayment, the Company paid an early termination fee of $4,741. Unamortized deferred financing fees of $121 were accelerated on the date of the termination. Fees paid and deferred financing fees accelerated were recognized in loss on extinguishment of debt. Senior Secured Credit Facility On August 28, 2015, pursuant to the terms of a commitment increase letter acknowledgment, the Tranche A revolving commitments under the senior secured credit facility were increased from $575,000 to $650,000. This brought total revolving commitments under the senior secured credit facility to $750,000. See Note 15 for discussion of an additional commitment increase letter acknowledgement under the senior secured credit facility in November 2015.

8.SALE-LEASEBACK AND DEBT

Sale-Leaseback and Mortgage Facility Repayment

On June 26, 2015, the Company entered into a sale-leaseback arrangement with an unrelated party. Under the arrangement, the Company sold six retail department stores for $84,000 and leased them back for a period of 20 years with three optional 10-year renewal terms. The basic rent payable in connection with the lease is $6,888 per year, subject to annual adjustments for increases in the Consumer Price Index with a 2% minimum increase and a 4% maximum increase each year.

The leaseback has been accounted for as a capital lease, and the Company recorded a capital lease asset and obligation of $88,229 at the beginning of the lease term. The loss of $1,971 on this transaction was deferred and is being amortized to expense over the term of the lease.

Proceeds from the sale-leaseback transaction, supplemented with borrowings under the Company’s senior secured credit facility, were used to pay the remaining principal balance of $104,538 on one of the two mortgage facilities due in April 2016. As a result of such prepayment, the Company paid an early termination fee of $4,741. Unamortized deferred financing fees of $121 were accelerated on the date of the termination. Fees paid and deferred financing fees accelerated were recognized in loss on extinguishment of debt.

Senior Secured Credit Facility

On August 28, 2015, pursuant to the terms of a commitment increase letter acknowledgment, the Tranche A revolving commitments under the senior secured credit facility were increased from $575,000 to $650,000. This brought total revolving commitments under the senior secured credit facility to $750,000.

See Note 15 for discussion of an additional commitment increase letter acknowledgement under the senior secured credit facility in November 2015.