Judge OKs $60M DIP Loan For Sharper Image

Law360, New York (March 10, 2008, 12:00 AM EDT) -- Bankrupt Sharper Image Corp. will continue operating as a debtor-in-possession after a judge approved up to $60 million in financing for the beleaguered retail chain.

After a hearing on Friday, Judge Kevin Gross of the Delaware bankruptcy court also authorized Sharper Image's use of cash collateral, saying the funds were needed to keep the company from going out of business.

“An immediate need exists for the debtor to obtain funds from the DIP facility in order to continue operations and to administer and preserve the value...
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