YORK, Pa. — The Bon-Ton Stores Inc. has a new, $200 million financing agreement with two financial institutions.
The new pact replaces a $142 million facility.
The agreement consists of an $11 million term loan and a $189 million revolving credit agreement, Bon-Ton said. The company did not identify the financial institutions.
Collateral for the loan includes inventory and selected fixed assets.
“The new $200 million asset-based financing is cost effective and provides us with the additional working capital needed to support our merchandise initiatives over the next three years,” Michael J. Gleim, vice chairman and chief operating officer, said in a statement.
Bon-Ton operates 64 stores in middle and secondary markets in Pennsylvania, New York, New Jersey, Maryland, West Virginia and Georgia .

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