Daily News: January 16, 2013

Wells Fargo Provides Financing in Handy Hardware Bankruptcy

According to a Dow Jones Newswire article, Houston-based Handy Hardware Wholesale filed for Chapter 11 with the U.S. Bankruptcy Court in Wilmington, DE. The article said that after the company’s expansion into a second distribution center during the recession hurt its bottom line.

Additionally, Handy Hardware owes $14.6 million to secured creditor Wells Fargo, the article said. Reportedly, Wells Fargo agreed to extend up to $30 million in bankruptcy financing, refinancing the existing facility.

To read the full Dow Jones article, click here.