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Article: Falcon Products Announces $45 Million Debtor-in-Possession Credit Facility and Approval of First Day Motions.
- Article from:
- PR Newswire
- Article date:
- February 14, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Falcon Products, Inc. , a leading manufacturer of commercial furniture, today announced that the U.S. Bankruptcy Court granted interim approval of a $45 million debtor-in-possession (DIP) credit facility, providing the Company with liquidity to enable it to maintain normal and uninterrupted operations while it completes its financial restructuring.
The Company also announced that it received court approval of its first day motions, including the continued payment of employee salaries and benefits, the ability to honor warranties and other obligations to customers and the ability to honor obligations to the Company's independent sales representatives.
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