Judge OKs $130M DIP Loan For Harry & David

Law360, New York (March 29, 2011, 7:05 PM EDT) -- Harry & David Holdings Inc. received bankruptcy court approval Tuesday in Delaware to borrow up to $130 million to maintain its operations and charted a course to exit Chapter 11 protection within six months.

Judge Mary F. Walrath said at a hearing in the U.S. Bankruptcy Court for the District of Delaware that she would sign off on the gourmet gift basket company’s debtor-in-possession financing order once it was submitted with minor language changes.

Harry & David’s DIP facility is divided into two parts: a $100...
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