Webster Bank’s asset-based lending team extended a new debtor-in-possession facility totaling $20 million to Pegasus Home Fashions. The facility will allow the company to effectuate the sale of the business via a 363 sale in bankruptcy.
“We’re thrilled to support our valued client, Pegasus, through this phase of repositioning their company for long-term success,” Abby Parsonnet, executive managing director and head of asset-based lending and commercial services at Webster Bank, said. “This financing is consistent with Webster’s approach of supporting clients through good times and more challenging ones as well.”
