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E&B MARINE RECEIVES EXTENSION OF REVOLVING CREDIT FACILITY

 E&B MARINE RECEIVES EXTENSION OF REVOLVING CREDIT FACILITY
 EDISON, N.J., April 1 /PRNewswire/ -- E&B Marine Inc. announced today that it has received an extension of the company's $7 million revolving credit facility to Dec. 31, 1993. In addition, its banks and institutional lenders have agreed to defer $1,242,000 principal payments from Dec. 31, 1992, to June 30, 1993, and to amend certain financial covenants.
 Kenneth G. Peskin, the company's chairman and chief executive officer, said: "The credit extension further enhances E&B's abilities to meet its identifiable working capital requirements through year end 1993. It is another important step toward returning the company to profitability. Support by our people and suppliers have led to a stronger inventory position which has translated into higher sales and customer traffic in our stores. I am confident that by working together, we will continue to make progress."
 E&B Marine Inc. is the nation's largest direct-mail merchandiser and specialty retailer of marine supplies and accessories. E&B has 46 retail outlets and operates in 13 states.
 -0- 4/1/92
 /CONTACT: Walfrido Martinez, vice president, chief financial officer of E&B Marine, 908-819-7400/ CO: E&B Marine Inc. ST: New Jersey IN: REA SU: FNC


TS -- NY011 -- 3736 04/01/92 09:01 EST
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Publication:PR Newswire
Date:Apr 1, 1992
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