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Muji U.S.A. receives final court approval of $22 million DIP facility
By Caroline Salls
Pittsburgh, Aug. 12 – Muji U.S.A. Ltd. obtained court approval to access up to $22 million in debtor-in-possession financing, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
The financing is being provided by Muji’s parent company, Ryohin Keikaku Co., Ltd.
The DIP loan will mature 145 days after Muji’s bankruptcy filing.
Interest will accrue at a rate of 8%.
Muji is a New York-based apparel and food retailer. The company filed bankruptcy on July 10 under Chapter 11 case number 20-11805.
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