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Stock impact report

Franchise Group Approved to Borrow $250 Million in Bankruptcy [Yahoo! Finance]

B. Riley Financial, Inc. (RILY) 
NASDAQ:AMEX Investor Relations: ir.brileyfin.com/investor-relations
Company Research Source: Yahoo! Finance
Most Read from Bloomberg Paris Restricts Through Traffic in City Center From Housing to Immigration, Key Ballot Initiatives and Local Races to Follow Key Ballot Initiatives and Local Races Highlight Views on Abortion, Immigration Bankruptcy Judge John Dorsey overruled objections from two lower ranking creditors — bond-giant Pacific Investment Management Co. and Irradiant Partners LP — who said they were willing to provide an alternative loan with fewer fees and a lower interest rate, but would not give Franchise as much cash as the company needs to get through its Chapter 11 case. Judge Dorsey agreed to temporarily approve the $250 million financing after initially declining to, because the lenders agreed to reduce some of the fees on the loan among other changes, according to a court hearing Wednesday. Franchise Group will have immediate access to $100 million in cash from the loan, but must return to court in the coming weeks to win final approval of the financing packa Show less Read more
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