Bruno's Gets Green Light For $4M In DIP Cash

Law360, New York (February 9, 2009, 12:00 AM EST) -- A bankruptcy judge has allowed Bruno’s Supermarkets LLC to borrow up to $4 million of a requested $6.7 million in debtor-in-possession financing, providing cash that the supermarket chain says it needs to continue operations while in Chapter 11.

Judge Benjamin Cohen issued an order Monday in the U.S. Bankruptcy Court for the Northern District of Alabama providing interim approval of the financing request to the privately owned retailer.

However, based on prior negotiations, the financing will not be provided by Bi-Lo LLC, a company related to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.