Carter Hawley Hale Financing OKd: The parent...

Carter Hawley Hale Financing OKd: The parent of Broadway-Southern California department stores and other retailers won bankruptcy court approval to use $250 million in financing from Chemical Bank. Previously, only $150 million of that money was available to Carter Hawley, which sought Chapter 11 bankruptcy court protection Feb. 11. The company will seek court approval in March for an additional $550 million in financing to support credit card operations. Philip M. Hawley, chairman and chief executive, said the financing now in place would enable the company to pay suppliers “on a timely basis.”