USA: One Price Clothing Extends Term of Credit Facility
One Price Clothing Stores, Inc (Nasdaq: ONPR), the US retail specialty stores chain, today reported that it has extended the term of its existing $37.5 million working capital facility through July 31, 2003. The amended facility is provided by Congress Financial Corporation (Southern), an affiliate of First Union Corporation. In addition to extending the facility term, the amendment lowers the company's borrowing rates by 0.5 per cent for borrowings indexed to the London Interbank Offered Rate (LIBOR) and 0.25 per cent for borrowings indexed to the Prime Rate.Larry I. Kelley, president and chief executive officer, commented: "Since 1996, Congress Financial has ably supported our working capital needs. We are very pleased to extend this valuable relationship for another three years. The amended facility rewards our strong financial condition with lower borrowing costs and greater flexibility for our business."The company currently operates 657 stores in 30 states, Columbia, Puerto Rico and the US Virgin Islands under the One Price & More! and BestPrice! Fashions brands.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- What TTIP might mean for US, EU textiles & apparel
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- Four steps to reduce product defects
- US Q4 in brief – Finish Line, Oxford Industries
- Li & Fung forms supply chain partnership with PVH
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- Walmart snaps up online fashion firm ModCloth
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective