$250M Boscov's DIP Financing Approved

Law360, New York (September 5, 2008, 12:00 AM EDT) -- Bankrupt department store chain Boscov's Inc. has received final approval of a $250 million debtor-in-possession loan that the company says will allow it to continue its operations with an uninterrupted "merchandise flow" going into the holiday sales season.

The final order approving the loan provided by prepetition lender Bank of America NA was issued Aug. 29 by Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware.

"We are grateful for this vote of confidence as we normalize relations with vendors and provide...
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