Newspaper article THE JOURNAL RECORD

Continental Arranges $120 Million Line of Credit

Newspaper article THE JOURNAL RECORD

Continental Arranges $120 Million Line of Credit

Article excerpt

HOUSTON _ Continental Airlines is arranging a $120 million line of credit to allow it more flexibility as it reorganizes its business in bankruptcy court. Chase Manhattan Bank, Mellon Bank, NMB Postbank Groep of The Netherlands have agreed to set up the fund, but Continen- tal has no specific use planned for the entire sum. The credit line needs to be approved by the judge in Continental's Chapter 11 case, in Wilmington, Del., but the Houston-based airline thinks that will happen within two weeks, spokes- man Dave Messing said Friday. "It's a revolving credit facility which we can access and draw from, if needed," Messing said "It strengthens our overall restructuring picture. It gives us more flexibility from a financial standpoint." Mid-size Wal-Mart Store May Be Next KANSAS CITY, Mo. _ Billionaire Sam Walton said he may develop a new version of Wal-Mart store that is a combination of the Hypermart USA and the smaller Wal-Mart Supercenters. Wal-Mart, the nation's largest retailer, operates four Hypermarts, but Walton has said the newest one in Kansas City may be the last. The Kansas City Hypermart is the largest at just more than 260,000 square feet; the others begin at 180,000 square feet and range up to 260,000 square feet. "We're pleased with the progress," Walton said he toured the Kansas City Hypermart. "But if you do see any in the future, they probably won't be as large." Supercenters are smaller, ranging in size from 97,000 to 211,000 square feet. Both Hypermarts and Supercenters sell groceries and other general merchandise, but Hypermarts offer more services. Lionel Corp. Files Bankruptcy NEW YORK _ Lionel Corp., one- time model-train maker and current operator of the Kiddie City toystore chain, on Friday sought protection from creditors under U. …
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