WFCF, BofA Increase Orchard Supply Hardware ABL Facility
Orchard Supply Hardware Stores provided updates on the company’s efforts to refinance or modify its term loan debt and otherwise work to improve its capital structure. Some of the company’s updates include:
Mark Baker, president and chief executive officer, stated, “As we begin 2013, we remain committed to our repositioning strategy. We have taken a number of steps in the past year to drive long-term improvement in Orchard’s operating results and to strengthen our financial position. We are very pleased to have expanded our credit facility, as planned, and improved our financial flexibility, both of which provide additional liquidity as we enter our peak spring selling season.”
Orchard Supply Hardware Stores Corporation operates neighborhood hardware and garden stores focused on paint, repair and the backyard.
Previously on abfjournal.com: