EATON UPS ITS REVOLVING CREDIT LINE
NEW YORK — T. Eaton Co. Ltd., the bankrupt Canadian department store chain, has increased its revolving line of credit to $144 million ($200 million Canadian) from $130 million Canadian.
The Royal Bank of Canada will supply $71 million ($99 million Canadian) of the credit facility, and GE Capital Services Inc. will provide $73 million ($101 million Canadian).
Toronto-based Eaton operates 86 department stores, which produced sales of $1.2 billion ($1.6 billion Canadian) in 1996. The company filed for bankruptcy protection on Feb. 27.