Printer Friendly

BANKRUPTCY COURT APPROVES FINANCING FOR JAMESWAY

 NEW YORK, Aug. 10 /PRNewswire/ -- The United States Bankruptcy Court for the Southern District of New York today approved $75 million in Debtor-In-Possession financing for Jamesway Corporation to allow it to continue to conduct normal business operations during its reorganization under Chapter 11 of the Federal Bankruptcy code, the company said.
 As previously announced, Jamesway received a commitment for a $75 million line of credit facility from the CIT Group/Business Credit, of which the Bankruptcy Court approved the first installment of $30 million in interim financing on July 21.
 Jamesway Corporation operates 108 discount department stores in seven mid-Atlantic states.
 -0- 8/10/93
 /CONTACT: Peter Rosenthal or Joseph Kist, of Howard J. Rubenstein Associates, Inc., 212-489-6900/
 (JMY)


CO: Jamesway Corporation ST: New Jersey IN: REA SU: BCY

LG-OS -- NY064 -- 1268 08/10/93 14:30 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 10, 1993
Words:138
Previous Article:DYNAMIC CLASSICS APPOINTS SENIOR VICE PRESIDENT
Next Article:FIFTH DIMENSION REPORTS RESULTS
Topics:

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