NEW YORK -- Merry-Go-Round Enterprises received final bankruptcy court approval Tuesday of a $125 million debtor-in-possession CIT Group Business Credit.

MGR filed its Chapter 11 petition last month in Baltimore after it was unable to line up a new bank deal. In addition to the financing package, the chain has about $100 million in cash.

As reported, MGR is likely to close up to 200 of its 1,450 stores this year as part of the reorganization.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus