Central Grocers Gets Interim OK For New $205M DIP Loan

Law360, Wilmington (May 17, 2017, 7:32 PM EDT) -- A Delaware bankruptcy judge gave Central Grocers Inc. the interim OK on Wednesday for up to $205 million in post-petition financing, likely ending the grocery cooperative’s reliance on temporary bouts of funding from lender cash as the debtor gears up to sell its assets at auction.

During a hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber Silverstein gave interim approval for a revolving debtor-in-possession financing administered by PNC Bank NA, for up to $205 million to be used to help fund operations and a proposed auction...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.