Uni-Marts seeks court approval of $3.5 million DIP facility

By Jennifer Lanning Drey

Portland, Ore., June 6 - Uni-Marts, LLC requested court approval to obtain $3.5 million in debtor-in-possession financing from SC Capital Group, LLC, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The revolving credit facility will be used to support the company's working capital needs, according to the filing.

The facility will mature on the earlier of Sept. 26 and the sale of substantially all of the company's assets that serve as collateral.

Interest is 6%.

A hearing has been scheduled for June 27.

Uni-Marts is a State College, Pa.-based convenience store operator. Its Chapter 11 case number is 08-11037.

© 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.