OTHER NEWS - June 12, 1996
Times Staff and Wire Reports
House of Fabrics Gets Financing Extended: A bank group, led by Bank of America, has agreed to continue the $17.3-million debtor-in-possession credit facility for the Sherman Oaks retailer through July 31. That’s when House of Fabrics, which filed for Chapter 11 bankruptcy protection in November 1994, expects its reorganization plan and new credit facility to become effective. Gary L. Larkins, House of Fabrics’ chief executive, said the financing extension will enable the company to pay for the orders it is currently placing for fall and winter merchandise.
