Printer Friendly

HOUSE OF FABRICS ARRANGES A $135 MILLION REVOLVING LINE OF CREDIT

 SHERMAN OAKS, Calif., April 28 /PRNewswire/ -- House of Fabrics Inc. (NYSE: HF) today announced that it has reached an agreement with a group of banks, led by Bank of America, for the establishment of a committed $135 million line of revolving credit.
 Gary L. Larkins, president and chief executive officer, commented: "Previously, the company's requirements for short-term credit were substantially met through various banks, using uncommitted funds. This new agreement, coupled with $37 million of existing commitments, gives us a total of $172 million of committed funds. These committed funds, together with available uncommitted lines of credit, will provide working capital as House of Fabrics continues to expand its business."
 House of Fabrics Inc. is one of the nation's leading chains of company owned and operated retail fabric stores with 691 currently in operation and with annual sales of approximately $560 million.
 -0- 4/28/93
 /CONTACT: Gary L. Larkins, president of House of Fabrics, 818-995-7000/
 (HF)


CO: House of Fabrics Inc. ST: California IN: REA SU:

MS-JL -- LA008 -- 1800 04/28/93 09:01 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:Apr 28, 1993
Words:176
Previous Article:JB'S RESTAURANTS SAYS IT IS NOT AWARE OF REASONS FOR RECENT STOCK PRICE DROP
Next Article:AT/COMM ANNOUNCES NEW RADIO FREQUENCY IDENTIFICATION SYSTEMS FOR TRANSPORTATION
Topics:


Related Articles
IHOP COMPLETES $32 MILLION PRIVATE PLACEMENT; ARRANGES $10 MILLION BANK REVOLVING LINE OF CREDIT
HOUSE OF FABRICS EXTENDS ITS REVOLVING CREDIT AGREEMENT AND RETAINS KIDDER, PEABODY & CO. AS ADVISOR
JPS TEXTILE GROUP COMPLETES SALE OF AUTOMOTIVE PRODUCTS AND SYNTHETIC INDUSTRIAL FABRICS BUSINESSES TO FOAMEX INTERNATIONAL
EDISON BROTHERS RECEIVES NEW FINANCING, CONCESSIONS ON EXISTING LOANS
HOUSE OF FABRICS OBTAINS $60 MILLION FINANCING FROM CIT
CellStar Completes New Credit Facility
Transnational Financial Corporation Announces a $30 Million Increase in the Company's Warehouse Line of Credit.

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