GVS Texas gets interim OK to use cash collateral of Wells Fargo

By Sarah Lizee

Olympia, Wash., July 6 – GVS Texas Holdings I, LLC secured interim court approval to use the cash collateral of Wells Fargo Bank, NA, according to an interim order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The company said in its motion that it needs access to the cash collateral to maintain operations and administer its Chapter 11 cases.

GVS Texas is an indirect subsidiary of GVS Portfolio I B, LLC, which does business as Great Value Storage, an Austin, Tex.-based storage chain. GVS Texas Holdings I filed bankruptcy on June 17 under Chapter 11 case number 21-31121.

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