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SPAGHETTI WAREHOUSE SECURES $15 MILLION BANK LINE OF CREDIT

 SPAGHETTI WAREHOUSE SECURES $15 MILLION BANK LINE OF CREDIT
 GARLAND, Texas, April 16 /PRNewswire/ -- Spaghetti Warehouse, Inc. (NYSE: SWH) today announced that it has received a commitment from Team Bank, Dallas for an unsecured $15 million revolving credit facility. The commitment is subject to the negotiation and execution of a definitive loan agreement. The company plans to use the proceeds from this loan to finance its accelerated growth plan.
 The company presently operates 23 restaurants in 14 states and will open two additional units by the end of the current fiscal year which ends July 4, 1992. Present plans call for the opening of eight additional stores during the next fiscal year. This loan, together with the company's present cash balances of approximately $12 million along with cash flow from operations, will provide financing for the company's growth through fiscal 1994.
 The restaurants, which operate under the name "The Spaghetti Warehouse," feature value-priced, classic Italian food in a casual atmosphere.
 -0- 4/16/92
 /CONTACT: William B. Rea Jr. of Spaghetti Warehouse, 214-226-6000/
 (SWH) CO: Spaghetti Warehouse, Inc. ST: Texas IN: LEI SU:


TQ -- NY084 -- 9360 04/16/92 14:01 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
Words:192
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