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Credit agreement could keep Stage Stores afloat.
Houston-based Stage Stores Inc., which filed for Chapter 11 bankruptcy earlier this month, will try to stage a comeback with a $450 million credit agreement secured this week.
The operator of about 600 Palais Royal, Bealls and Stage stores acknowledged after its June 1 bankruptcy filing that between 75 and 100 stores will be closed as the first step of the company's effort to return to profitability.
On June 27, the company announced that the U.S. Bankruptcy Court's Southern District of Texas has approved Stage's three-year, $450 million debtor-in-possession credit agreement with Citicorp USA Inc. Citicorp agreed to extend the credit line earlier this month, …
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Magazine article from: San Antonio Business Journal
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Magazine article from: Houston Business Journal
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Magazine article from: Houston Business Journal
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