US regional supermarket operator Eagle Food Centers has announced that it has received final court approval of the company’s US$40m debtor-in-possession (DIP) financing facility.
The DIP financing will enable the company, which owns and operates 60 supermarkets in Illinois and Iowa, to continue funding obligations to employees and suppliers, as well as other day-to-day operations of the company.
Go deeper with GlobalData
Eagle Food Centers filed its voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of Illinois on 7 April 2003. The company said it is also continuing to focus its resources on maintaining the quality of its operations while it explores sale alternatives.
