Loehmann’s Exits Bankruptcy
Discount department store Loehmann’s, which filed for Chapter 11 bankruptcy protection last November, has completed its restructuring plan and has emerged from bankruptcy. The company secured $45 million in exit financing from Wells Fargo Bank and Whippoorwill Associates as agent for its discretionary funds and accounts. The company said its restructuring eliminates all $110 million of a long-term bond debt.
