Friedman's lenders limit access, company may file for Chapter 11

By Jeff Pines

Washington, Jan. 12 - Friedman's Inc. said its lenders have limited access to the company's credit facility and it may have to file for Chapter 11.

Without access to cash, the company has not been able to satisfy all of its cash requirements.

Earlier this month, the Savannah, Ga.-based jewelry chain said it was not in compliance with various covenants of its credit facility.

Discussions with the company's lenders continue, it said, and Friedman's is reviewing strategic alternatives.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.