ALCO amends $120 million five-year facility to allow share buybacks

By Susanna Moon

Chicago, Feb. 12 - ALCO Stores, Inc. amended its $120 million five-year credit facility to permit the company to repurchase, redeem or acquire up to $1 million of shares each fiscal year, according to an 8-K filing with the Securities and Exchange Commission.

The company closed on the credit agreement on July 21 with Wells Fargo Bank NA as administrative agent, collateral agent, swingline lender and letter-of-credit issuer.

Alco Stores, formerly Duckwall-ALCO Stores, Inc., is a regional retailer based in Abilene, Kan., operating 216 stores in 23 states.

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