Business Services Industry
Pompano Beach, Fla., Online Travel Company Seeks Buyers for Assets.
Knight Ridder/Tribune Business News, February, 2001
By Beatrice E. Garcia, The Miami Herald Knight Ridder/Tribune Business News
Feb. 8--A U.S. bankruptcy judge approved up to $320,000 in interim financing for ByeByeNow.com so the company can make payroll as well as keep the lights and phones turned on for two more weeks as it scrambles to find buyers for some of its assets.
Before the Pompano Beach online travel services company filed for bankruptcy last Tuesday, it had negotiated a $1.3 million line of credit from Chicago 216e, an investor group that has already extended a $2.3 million bridge loan to the ailing firm. The loan was backed by assets of ByeByeNow and several subsidiaries, which have also filed for bankruptcy protection.
U.S. Bankruptcy Court Judge Raymond B. Ray allowed...
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