CHH RECEIVES FINANCING COMMITMENT FROM GE CAPITAL
CHH RECEIVES FINANCING COMMITMENT FROM GE CAPITAL LOS ANGELES, May 13 /PRNewswire/ -- Carter Hawley Hale Stores Inc.
(NYSE: CHH) today announced that it has accepted a commitment from General Electric Capital Corp. to provide CHH with post-bankruptcy working capital and accounts receivable financing facilities.
The two facilities are for a total of $800 million and provide up to $225 million in financing for working capital needs and up to $575 million to fund the company's credit card receivables. Both facilities are for three years and are subject to confirmation of a plan of reorganization and the negotiation of final loan documents. Carter Hawley Hale Stores Inc. operates 88 stores under the names of The Broadway, The Broadway Southwest, Emporium and Weinstocks. -0- 5/13/92 /CONTACT: Bill Dombrowski, VP-public affairs of Carter Hawley Hale, 213-239-6522/ (CHH) CO: Carter Hawley Hale Stores Inc.; General Electric Capital Corp. ST: California IN: REA SU: FNC
KJ-CH -- LA015 -- 9657 05/13/92 12:00 EDT
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|Date:||May 13, 1992|
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