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Apparel store Christopher & Banks gets revolving credit
09 Nov '05
1 min read
Minneapolis-based apparel store Christopher & Banks Corporation that through its operating subsidiaries it has increased its revolving credit facility with Wells Fargo Bank National Association to $50 million from $40 million, subject to inventory levels.
In addition, the Company negotiated a two-year extension to the credit facility with a new maturity date of June 30, 2008.
The revolving credit facility is available for seasonal working capital needs and other general corporate purposes. The Company has no borrowings under the facility, and has historically only used the line of credit to facilitate the opening of letters of credit in connection with importing merchandise.
Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company currently operates 702 women's specialty stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 501 Christopher & Banks stores, 178 C.J. Banks stores and 23 Acorn stores.
In addition, the Company negotiated a two-year extension to the credit facility with a new maturity date of June 30, 2008.
The revolving credit facility is available for seasonal working capital needs and other general corporate purposes. The Company has no borrowings under the facility, and has historically only used the line of credit to facilitate the opening of letters of credit in connection with importing merchandise.
Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company currently operates 702 women's specialty stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 501 Christopher & Banks stores, 178 C.J. Banks stores and 23 Acorn stores.
Christopher & Banks Corporation
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