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Published on 11/21/2013 in the Prospect News Distressed Debt Daily.

Hospitality Staffing's $7 million DIP facility gets final approval

By Jim Witters

Wilmington, Del., Nov. 21 - Hospitality Staffing Solutions Group, LLC received final approval for a $7 million debtor-in-possession facility from HSS DIP, LLC, according to a Nov. 21 filing with the U.S. Bankruptcy Court for the District of Delaware.

The financing will mature on the earlier of three months from the date of the interim order and either a plan of reorganization effective date or completion of a sale.

Interest is 13%.

Hospitality Staffing, an Atlanta-based provider of hospitality staffing services to hotels, resorts and casinos, filed for bankruptcy on Oct. 24. The Chapter 11 case number is 13-12740.


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