Rue21 Inc. and its lenders are in negotiations surrounding the teen apparel retailer’s likely bankruptcy filing, according to people familiar with the matter.
The retailer, which has been in search
of a junior bankruptcy loan since mid-April, is in talks with its
term-loan lenders to fund this debtor-in-possession facility, the people
added. While the retailer has been trying to raise a junior loan in the
ballpark of $50 million, discussions about the size are still fluid,
one of the people said.. . . more