Apollo’s Michaels Uses $101 Million of Tariff Refund to Cut Debt

Apollo Global Management Inc.-owned retailer Michaels Cos. used a windfall from tariff refunds to help cut its leverage, according to people familiar with the matter.

By Reshmi Basu · Bloomberg Markets

Apollo Global Management Inc.-owned retailer Michaels Cos. used a windfall from tariff refunds to help cut its leverage, according to people familiar with the matter.