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Claire’s Bankruptcy Financing Approved

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The U.S. Bankruptcy Court approved, on an interim basis, Claire’s Stores’ post-petition financing motion.

As previously reported “The Debtors request for a $135 million DIP Financing facility, comprised of (a) a senior secured multiple-draw asset-based revolving credit facility in an aggregate principal amount of up to $75 million and (b) a senior secured ‘last-out’ term loan facility in an aggregate principal amount of up to $60 million, of which up to $30 million will be borrowed on an interim draw.”

The Court scheduled an April 19, 2018 hearing to consider final approval.

Read more Claire’s bankruptcy news.

The post Claire’s Bankruptcy Financing Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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