$210M DIP Financing Approved For Goody's Clothing

Law360, New York (June 11, 2008, 12:00 AM EDT) -- Bankrupt retailer Goody's Family Clothing Inc. has received a judge's approval of a $210 million debtor-in-possession financing deal while it reorganizes its business.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware signed off Wednesday on the financing, which comprises a $175 million revolving credit facility from General Electric Capital, a $15 million term loan facility from GB Merchant Partners LLC, and a $20 million junior term loan facility from PGDYS Lending LLC.

The court also allowed Goody's to continue to...
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