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HECHINGER COMPANY ANNOUNCES SALE OF ACCOUNTS RECEIVABLES

 HECHINGER COMPANY ANNOUNCES SALE OF ACCOUNTS RECEIVABLES
 LANDOVER, Md., Feb. 5 /PRNewswire/ -- Hechinger Company (NASDAQ-NMS: HECHA, HECHB) today announced the sale of the company's accounts receivables to an affiliate of General Electric Capital Corporation. The company sold the accounts receivables for approximately $80 million.
 John Hechinger, Jr., president and chief executive officer, said: "GE Capital is one of the largest issuers of private label credit cards, with over 65 million cardholders, serving over 300 retailers. We believe their state-of-the-art processing and promotional capabilities will help expand our Hechinger credit card base and generate additional business in both our Home Quarters Warehouse and Hechinger stores."
 Hechinger Company is a leading specialty retailer, currently operating 112 do-it-yourself home centers. The company serves the growing home improvement industry through its three divisions: Hechinger, Home Quarters Warehouse and Triangle Building Centers.
 -0- 2/5/92
 /CONTACT: Lennie Zallar, vice president and treasurer of Hechinger, 301-925-3170/
 (HECH) CO: Hechinger Company ST: Maryland IN: RET SU:


MK -- DC018 -- 7340 02/05/92 16:01 EST
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Publication:PR Newswire
Date:Feb 5, 1992
Words:169
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