Barry's Jewelers announces compliance with banking covenants.MONROVIA, Calif.--(BUSINESS WIRE)--Jan. 29, 1997--Barry's Jewelers Inc. (NASDAQ/NM:BARY) Wednesday reported that it has achieved compliance with all covenants under its banking agreements with Bank Boston and other lenders. The company said that in addition to clearing past covenant defaults, it has negotiated new covenants This article is about the theological concept of the New Covenant. For other uses, see New Covenant (disambiguation). The term New Covenant (Hebrew: ברית חדשה, under those agreements. The company earlier reported to the Securities and Exchange Commission that it had defaulted on certain banking covenants. Robert W. Bridel, president and chief executive officer of Barry's Jewelers, said: ``We are very pleased with the level of support and cooperation we have received from our lenders as we work to restore Barry's to a sound financial footing. ``We are now in compliance with all covenants, and we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that our efforts to improve Barry's fundamentals will enable us to remain so in the future.'' Barry's Jewelers, one of the nation's largest independent retailers of fine jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. , operates retail jewelry stores in 18 states throughout the country, primarily in California, Texas, Arizona, North and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Utah, Montana, Colorado, Ohio and Indiana. CONTACT: Barry's Jewelers Inc., Monrovia Robert W. Bridel or Thomas S. Liston, 818/303-4741 or Silverman Heller Associates, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Eugene G. Heller, 310/208-2550 |
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