Judge OKs $20M Loan For Tweeter Liquidation

Law360, New York (November 10, 2008, 12:00 AM EST) -- Bankrupt consumer electronics retailer Tweeter Opco LLC may borrow up to $20 million in Chapter 11 financing to help the company conduct an orderly liquidation of its roughly 90 stores, a judge has ruled.

Judge Mary F. Walrath issued an order Friday in the U.S. Bankruptcy Court for the District of Delaware providing interim approval for the debtor-in-possession financing, to be provided by Wells Fargo Retail Finance LLC.

Judge Walrath also granted requests for the company to continue using its cash-management system and uphold prepetition obligations...
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