THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, April 8, 1995 TAG: 9504080268
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
Rose's Stores Inc., the North Carolina-based discount chain, will close seven more stores. The company, which is near the end of its court-ordered bankruptcy protection, is exempt from the terms of its leases as long as it remains in court. That means it can close the North Carolina stores more cheaply now than later. Rose's said this week that it has an $80 million financing commitment from GE Capital Corp. The company also has secured a three-year revolving credit agreement from First National Bank of Boston and CIT Group/Business Credit Inc. for up to $125 million. (AP) by CNB