US: LaCrosse Footwear renews credit facility
Author: just-style.com | 9 March 2009
Branded work and outwear boot maker LaCrosse Footwear has announced that investor Wells Fargo & Company has extended its three-year line of credit agreement.
It will provide the same borrowing levels as the prior three-year agreement, a statement said.
"We're very pleased that our credit line was renewed based on our strong balance sheet and strong operating performance, despite the turbulent financial markets and generally tight credit environment," said Joseph P Schneider, president and CEO.
"While we did not borrow against this line during 2007 or 2008 because of our strong cash position, we believe this credit facility offers us additional support for managing our seasonal business cycle and making future strategic investments to grow our business."
The new credit line will be effective from 1 March to 30 June 2012 and allows LaCrosse to borrow up to US$17.5m from January to May and up to $30m from June to December.
Companies: LaCrosse
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US: LaCrosse Footwear renews credit facility
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