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BRENDLE'S SUBMITS LOAN PAYMENT AHEAD OF SCHEDULE

 BRENDLE'S SUBMITS LOAN PAYMENT AHEAD OF SCHEDULE
 ELKIN, N.C., Aug. 7 /PRNewswire/ -- Brendle's Incorporated (NASDAQ-NMS: BRDL) announced today it has made an advance payment of $3 million on the balance due its creditors under a loan agreement reached in May. The Southeastern retailer was required to make the payment by September 30, 1992, according to the loan terms.
 "We are pleased to make this first payment on our amended loan agreement nearly 60 days before its due date," said Dave Renegar, chief financial officer for Brendle's. In May, the company negotiated a $56.9 million loan from a consortium of First Union National Bank, NationsBank and First Citizens Bank.
 The company recently announced its plan to shift from a discount/catalog retailer to a focused specialty retailer of gifts, jewelry, leisure living products and home accessories.
 Brendle's Incorporated operates 51 stores in North Carolina, South Carolina, Virginia, Georgia and Tennessee and employs 2,500.
 -0- 8/7/92
 /CONTACT: (Media) Walter Jones of Brendle's, 919-526-6570/
 (BRDL) CO: Brendle's Incorporated ST: North Carolina IN: REA SU:


CM -- CH006 -- 8133 08/07/92 16:14 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
Words:185
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