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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.

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https://www.bloomberg.com/news/articles/2026-09-14/apollo-s-michaels-uses-101-million-of-tariff-refund-to-cut-debt?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc4OTQ1MjQwNiwiZXhwIjoxNzkwMDU3MjA2LCJhcnRpY2xlSWQiOiJUTEQwNThUOTZPU0gwMCIsImJjb25uZWN0SWQiOiJFNTgzQzJGNzAwMzI0MDQzOTRBNjQ1OUY4REVGNzM3MCJ9.FOgfIXSncmOtiGjRXbdtcglAjgC8cjru21ut38DO99k

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