Troubled US grocery distributor Fleming has asked a bankruptcy court to approve US$150m in financing and other measures the company says will help its restructuring efforts.
Fleming said that Deutsche Bank Trust Co Americas and JP Morgan Chase Bank would be the lenders for the debtor-in-possession financing, reported AP Online.
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The company also asked for approval of an arrangement to allow trade vendors who agree to supply Fleming and restore trade terms to participate in a lien on the company’s assets.
Fleming filed for Chapter 11 bankruptcy protection on 1 April, a month after a contract with its then largest customer Kmart was ended.
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