Retailer Muji USA Gets OK To Tap Into $22M Ch. 11 Financing

Law360 (July 14, 2020, 6:54 PM EDT) -- A Delaware judge on Tuesday gave the American unit of Japanese home goods retailer Muji the go-ahead to tap into a $22 million post-petition loan in its Chapter 11 as the company moves forward with plans to restructure nearly $73 million in debt.

During a virtual hearing, U.S. Bankruptcy Judge Mary F. Walrath gave her nod for Muji USA Ltd. to access $2.6 million of debtor-in-possession funds on an interim basis with the approval of the full DIP to be considered at a future hearing.

The judge signed off on the interim DIP funding after U.S. Trustee representative David L. Buchbinder raised...

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