Hearing on Clothestime Financing Delayed

SANTA ANA — A U.S. Bankruptcy Court hearing on Clothestime Inc.’s request for a $40-million financing package was postponed until 9 a.m. today. Court sources said Clothestime, the Anaheim-based women’s apparel chain, and its potential lender requested the postponement Monday, when the hearing was scheduled.

Clothestime has said it needs financing from CIT Group/Business Credit Inc. to pay vendors and continue operating its stores. No opposition to the financing proposal has been filed by Clothestime creditors. Clothestime filed for bankruptcy protection Dec. 8.