Bankrupt Fleming Cos. has won interim approval in a Delaware court for $150 million in debtor-in-possession financing.
The goal of the financing is to help it maintain supplier support, which has waned since the company filed for Chapter 11 protection as some manufacturers either stopped shipping to Fleming or demanded much tighter payment terms.
The new financing program grants liens to vendors who extend credit to Fleming for food deliveries.
The goal of the financing is to help it maintain supplier support, which has waned since the company filed for Chapter 11 protection as some manufacturers either stopped shipping to Fleming or demanded much tighter payment terms.
The new financing program grants liens to vendors who extend credit to Fleming for food deliveries.
- KC's View:
