Printer Friendly

MACY'S REQUEST APPROVED BY BANKRUPTCY COURT

 MACY'S REQUEST APPROVED BY BANKRUPTCY COURT
 NEW YORK, Jan. 29 /PRNewswire/ -- R.H. Macy & Co., Inc., said today


that the U.S. Bankruptcy Court has approved its request to access $60 million of its $600 million in debtor-in-possession financing commitment from Chemical Bank and Bankers Trust Company. The court's approval was a necessary and routine part of Macy's reorganization proceedings.
 The company said that the $60 million will be sufficient to meet its financial needs during the initial stages of the Chapter 11 process. Macy's will request court approval for the balance of the financing commitment in a hearing scheduled for Thursday, Feb. 13.
 "We have been very pleased by the strong support and loyalty that we have received from our vendors and customers in the past few days," said Edward S. Finkelstein, chairman and chief executive officer of Macy's.
 -0- 1/29/92
 /CONTACT: James Fingeroth or Michael Freitag of Kekst and Company, 212-593-2655, for Macy's/ CO: R.H. Macy & Co., Inc. ST: New York IN: REA SU: BCY


GK -- NY077 -- 4842 01/29/92 15:21 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 29, 1992
Words:179
Previous Article:$1 BILLION IN MULTIFAMILY MORTGAGES SOLD TO FANNIE MAE BY JOHN HANCOCK
Next Article:KEYSTONE HERITAGE GROUP REPORTS EARNINGS, DECLARES CASH DIVIDEND
Topics:


Related Articles
MACY'S OFFICIAL BONDHOLDERS' COMMITTEE AGREES IN PRINCIPLE TO SUPPORT COMPANY'S REVISED REORGANIZATION PROPOSAL
MACY/FEDERATED DISCLOSURE STATEMENT AVAILABLE NOW
Court OKs Bradlees' request for extension.
DISABILITY GROUP SUES MACY'S WEST.
JUDGE: QUESTROM NOT ENTITLED TO $47M IN COMPENSATION.
MONTGOMERY WARD DECLARES BANKRUPTCY.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters