USA: Stage Stores Announces New Credit Agreement
Stage Stores Inc. today announced a three year $450 million debtor-in-possession credit agreement with Citicorp USA Inc. as agent. The company also announced that the credit agreement was approved by the U.S. Bankruptcy Court for the Southern District of Texas in an interim order dated June 2, 2000. The interim order approved borrowings of up to $385 million. Jack Wiesner, chairman, interim chief executive officer and president, commented, "This new credit agreement provides the company with significant liquidity to help ensure we can meet all of our financial obligations in the ordinary course of business." Stage Stores Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small towns and communities throughout the United States. The company currently operates more than 600 stores in 33 states, primarily under the Stage, Bealls and Palais Royal names. Any statements in this release that may be considered forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are discussed in periodic reports filed by the company with the Securities and Exchange Commission that the company urges investors to consider.
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.
- Trump and the apparel industry – Infographic
- Apparel factory auditing is in the firing line
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- NRF 2017 – Technology key to shopper experience
- Brands need to tackle Turkey factory refugee abuse
- New project to digitalise European fashion chains
- Patagonia launching circular economy platform
- JC Penney to roll out hundreds of Nike "shops"
- Auditing "in need of reinvention" says new project
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global apparel markets: product developments and innovations, October 2016
- Global market review of lingerie – forecasts to 2022