Hollywood Entertainment Corp - defers loan debt - Brief Article

> Hollywood Entertainment Corp. and its primary lenders agreed to defer for one month a $37.5 million debt payment originally due May 5. The second largest video rental chain in the nation is also negotiating a new credit facility that would reschedule future debt payments. The company has struggled financially since incurring heavy losses from its on-line video sales venture Reel.com, which folded last year.

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COPYRIGHT 2001 Gale Group

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