With the signatures of its creditors in...
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With the signatures of its creditors in hand, Wespercorp announced Wednesday that a bail-out agreement negotiated two weeks ago with its bank and debenture holders has been finalized.
The Tustin computer equipment maker negotiated an agreement with Union Bank which, among other things, extended Wespercorp an additional $2-million line of revolving credit and restructured payment on an additional $3.5-million of outstanding debt.
Wespercorp is expected to post losses of more than $11 million in fiscal 1984.
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