Mervyn's Wins Final Approval For $465M Financing

Law360, New York (August 27, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved a $465 million debtor-in-possession financing package for department store chain Mervyn's LLC, ruling that the financing is necessary for the company to continue operating as it restructures.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware ruled Tuesday that the order would allow Mervyn's to continue paying its employees and maintain its relationships with vendors. Judge Gross had already granted interim approval to the financing on July 31, soon after the company filed for bankruptcy.

The financing...
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