Loehmann's Creditors Back Ch. 11 Plan

Law360 (December 15, 2010, 5:29 PM EST) -- Discount retailer Loehmann's Capital Corp. said Wednesday that it has reached an agreement with its committee of unsecured creditors that will keep the company on track for a quick exit from Chapter 11.

The bankrupt discount chain said that the creditors agreed to support the restructuring plan that the company has filed in the U.S. Bankruptcy Court for the Southern District of New York.

With the unsecured creditors' support, the company expects to emerge from bankruptcy on or before Feb. 18, 2011, Loehmann's said.

Upon emergence...
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