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BRIEF-Payless ShoeSource files voluntary petition for reorganization under Chapter 11 of U.S. Federal Bankruptcy Code
April 4, 2017 / 7:26 PM / 8 months ago

BRIEF-Payless ShoeSource files voluntary petition for reorganization under Chapter 11 of U.S. Federal Bankruptcy Code

April 4 (Reuters) - Payless ShoeSource:

* Has filed a voluntary petition for reorganization pursuant to Chapter 11 of U.S. Federal Bankruptcy Code

* Negotiated agreements with certain of its existing lenders to provide coaccess of up to $385 million of debtor-in-possession financing

* Debtor-in-possession financing will provide payless with access to up to $120 million in incremental liquidity during chapter 11 cases

* Company’s North American entities, two foreign Hong Kong-based entities involved in logistics, supply chain included in restructuring Source text for Eikon:

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