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BANKRUPTCY COURT APPROVES $30 MILLION IN INTERIM FINANCING FOR JAMESWAY

 NEW YORK, July 22 /PRNewswire/ -- The United States Bankruptcy Court for the Southern District of New York yesterday approved $30 million in interim financing for Jamesway Corporation (NYSE: JMY) to allow it to conduct normal business operations during its reorganization under Chapter 11 of the Federal bankruptcy code, it was announced.
 Jamesway announced on Monday that it had received a commitment for a $75 million line of credit facility from the CIT Group/Business Credit. A final hearing to approve the full amount of the commitment is scheduled for August 10.
 Jamesway Corporation operates 108 discount department stores in seven mid-Atlantic states.
 -0- 7/22/93
 /CONTACT: David Sternstein or Joseph Kist of Howard J. Rubenstein Associates, 212-489-6900, for Jamesway Corporation/
 (JMY)


CO: Jamesway Corp. ST: New Jersey IN: REA SU: BCY

TS-WB -- NY055 -- 4579 07/22/93 13:01 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
Words:141
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