Business Services Industry
Florsheim Closes $110 Million Revolving Credit Facility
Business Wire, August 26, 1999
CHICAGO--(BUSINESS WIRE)--Aug. 26, 1999--
Florsheim Group Inc. (NASDAQ: FLSC) today announced the execution of a new $110 million, three year revolving credit facility with a subsidiary of Bankers Trust Company. The new facility replaces an existing bank credit facility which provided approximately $91 million.
Richard J. Anglin, Executive Vice President and Chief Financial Officer of Florsheim commented, "Expanding our credit facility provides the Company with the additional liquidity and flexibility necessary to accomplish our key initiatives essential to both our short and long term strategies."
Florsheim Group Inc. designs, markets, manufactures and sources a diverse and extensive range of products in the middle to upper price range of the men's quality footwear market. Florsheim distributes its products in more than 6,000 department and specialty store locations worldwide through approximately 289 company operated specialty and outlet stores and 43 licensed stores worldwide.
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