CHARMING SHOPPES SEES DELAY IN SHORT-TERM FINANCING PACT

NEW YORK--Charming Shoppes Inc.--whose stock has been pounded as the company endures red ink, shrinking sales and rumors of financing problems--said Friday its $30 million short-term financing deal will not be completed until this week.
Last Monday, the 1,415-unit women's specialty retailer announced that the financing deal would be completed by Oct. 5. At the same time, the retailer said it expected a $21 million to $31 million operating loss in the third quarter ending Oct. 28.
In a statement, Charming Shoppes, Bensalem, Pa., said it "continues to meet with its lenders" regarding the proposed financing deal. Last week, Charming reported September same-store sales fell 21 percent.--Fairchild News Service

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