Wilsons amends $180 million credit agreement - leatherbiz: Leading new Leatherbiz

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Wilsons amends $180 million credit agreement

17/04/2003

The US leather clothing and footwear retailer, Wilsons The Leather Experts, announced on Tuesday it has entered into an agreement to amend its $180 million credit facility.

 

Wilsons, based in Minneapolis, Minnesota said the amended agreement waives defaults under previous ratio covenants and contains covenant charges, an increase in advanced rates and an advance on an anticipated fourth quarter tax refund.

 

The firm said the line of credit provided by GE Capital, CIT, Wells Fargo, LaSalle and US Bank is effective until June 2005.

 



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