 West 49 Inc, Canada's leading action sport retailer, reported that it has successfully obtained the renewal of its existing credit facilities as anticipated and referenced in the Company's first quarter earnings release dated June 11, 2009.
The renewal of existing credit facilities included more accommodating financial covenants. As such, management believes that the Company will be in compliance with these covenants throughout the term of the facility.
The Company's next renewal date with its existing bank is scheduled for June 30, 2010.
West 49 Inc is a leading Canadian specialty retailer of fashion and apparel, footwear, accessories and equipment related to the youth action sports lifestyle. |