RETAILING
From Times Staff and Wire Reports
Carter Hawley Renegotiates Mortgage Agreement: Carter Hawley Hale Stores Inc. said its largest secured creditor has agreed to changes in a mortgage debt agreement that will allow Carter Hawley to modernize its 88 stores, most of which are in California. Under the agreement, Prudential is liberalizing payment terms on the $344-million loan it extended to Carter Hawley, which is trying to emerge from bankruptcy court protection. The agreement “gives Carter Hawley Hale the resources it needs to move forward successfully,” said Frank MacDougal, president of Prudential Mortgage Capital Co. Carter Hawley Hale Stores Inc. includes Broadway, Broadway Southwest, Emporium and Weinstocks.
