Cash-strapped NexCen Brands Inc. said it received “numerous expressions of interest” in its Bill Blass and Waverly brands and that it inked an agreement with its lender that will provide some additional financial breathing room, at least until July 17.
The agreement with BTMU Capital Corp. gives NexCen access to additional cash from its lockbox accounts and limited forbearance from “certain alleged defaults.” The company agreed to give monthly rather than quarterly updates on its operations and cash flow to the lender.
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