Articles > Popular publications > PR Newswire press releases > April-June 1995 > Monday, April 3

Article: GOTTSCHALKS ANNOUNCES ADDITIONAL REVOLVING CREDIT FACILITY

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PR Newswire
Article date:
April 3, 1995
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FRESNO, Calif., April 3 /PRNewswire/ -- Gottschalks Inc. (NYSE: GOT) announced that it has reached an agreement with Shawmut Capital and Wells Fargo Bank to expand its revolving credit facility by an additional $25 million to $60 million, from $35 million previously. Wells Fargo Bank will participate in the line as a 40% participant with Shawmut Capital Corp. The additional capital will be used to finance the working capital of the Company. This three-year senior secured revolving credit facility expires on March 31, 1997. This facility is secured by the Company's merchandise inventory.

In addition to the revolving credit facility, the Company has a $40 million ...

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