RETAILING
From Times Staff and Wire Reports
Macy’s Bid for New Line of Credit OKd: The U.S. Bankruptcy Court in New York City approved R. H. Macy & Co.’s $600-million, debtor-in-possession credit line from a group of lenders led by Chemical Bank and Bankers Trust Co. The new credit line will allow the retailer, which filed for bankruptcy protection last month, to continue operating while developing a reorganization plan. In addition to the department stores bearing its name, Macy’s operates the Bullock’s and I. Magnin chains in California.
