TAMPA, Fla. -- Kash n' Karry Food Stores here said last week it has reached a tentative agreement with lenders for $85 million in post-restructuring financing.
Kash n' Karry said it has extended the deadline for creditors to vote on the chain's proposed restructuring plan until 5 p.m. Nov. 8. The previous deadline was Oct. 25.
The extension allowed the chain to continue negotiating long-term bank financing plans with prospective lenders. It is expected that bondholder creditors will approve the proposed restructuring now that financing has been secured, according to trade observers.