Christopher & Banks Corporation (CBK), a specialty women’s accoutrement retailer, today appear it has extended, on essentially the aforementioned terms, its accepted chief anchored revolving acclaim ability (the “Amended Acclaim Facility”) in the bulk of up to $50 actor with Wells Fargo Basic Finance (“Wells”), allotment of Wells Fargo & Company (WFC). The Amended Acclaim Ability provides committed revolving allotment through August 3, 2023, as the above-mentioned ability was appointed to expire in September 2019. The Amended Acclaim Ability includes an added $5 actor FILO (“first-in, aftermost out”) tranche.
Keri L. Jones, President & Chief Executive Officer of Christopher & Banks, commented, “We are absolute admiring to accept continued our acclaim ability through 2023. We additionally absolute abundant acknowledge the abutment we accustomed from Wells and bulk their business relationship. Although we do not accept any outstanding borrowings beneath this facility, the accessible funds will accommodate added abutment for us as we assassinate on our operating and cardinal plans.”
The bulk of acclaim that is accessible beneath the Amended Acclaim Ability is bent as a allotment of the bulk of acceptable account and acclaim agenda receivables as bargain by assertive reserves, all as added absolutely declared in the Amended Acclaim Facility. The funds from the Amended Acclaim Ability may be acclimated for alive capital, arising of belletrist of credit, basic expenditures and added accumulated purposes.
Additional advice apropos the Amended Acclaim Ability will be accessible in a Accepted Address on Form 8-K to be filed by the Company with the Securities and Exchange Commission on or above-mentioned to August 9, 2018.
About Christopher & Banks
Christopher & Banks Corporation is a Minneapolis-based civic specialty banker featuring alone advised a branded women’s accoutrement and accessories. As of August 6, 2018, the Company operates 461 food in 45 states consisting of 313 MPW stores, 79 Outlet stores, 36 Christopher & Banks stores, and 33 food in its women’s additional admeasurement accouterment analysis CJ Banks. The Company additionally operates the www.christopherandbanks.com eCommerce website.
Keywords: Christopher & Banks, CJ Banks, Women’s Clothing, Additional Admeasurement Clothing, Petites, Continued Sizes, Outfits.
Certain statements in this columnist absolution may aggregate advanced statements, fabricated pursuant to the safe anchorage accoutrement of the Private Securities Litigation Reform Act of 1995, which reflect our accepted angle with account to assertive contest that could accept an aftereffect on our approaching performance. The advanced statements chronicle to expectations apropos affairs that are not absolute facts and may use the words “will”, “expect”, “anticipate”, “plan”, “intend”, “project”, “believe”, “should”, “drive” “in adjustment to” and agnate expressions. Except for absolute information, affairs discussed in this columnist absolution may be advised advanced statements.
These advanced statements are based abundantly on advice currently accessible to our administration and our accepted expectations, assumptions, plans, estimates, judgments and projections about our business and our industry, and are accountable to a cardinal of uncertainties and risks, as able-bodied as assumptions that, if they do not absolutely actualize or prove incorrect, could account the Company’s approaching achievement and banking after-effects to alter materially from those bidding or adumbrated by the advanced statements. We cannot agreement their accurateness or our approaching performance, and there are a cardinal of accepted and alien risks, uncertainties, contingencies, and added factors (many of which are alfresco our control) that could account absolute after-effects to alter materially from those bidding or adumbrated by such advanced statements. Accordingly, there is no affirmation that our expectations will, in fact, be accomplished or that our estimates or assumptions will be correct, and we attention investors and all others not to abode disproportionate affirmation on such advanced statements.
Important factors that could account absolute after-effects to alter materially from estimates or projections independent in the advanced statements include, but are not bound to, those factors declared in Item 1A, “Risk Factors” and in the “Forward-Looking Statements” acknowledgment in Item 7 “Management’s Discussion and Analysis of Banking Condition and After-effects of Operations” of our latest anniversary address on Form 10-K. All advanced statements that are fabricated or attributable to us are especially able in their absoluteness by this cautionary notice. The Company does not undertake to about amend or alter its advanced statements alike if acquaintance or approaching changes accomplish it bright that projected after-effects bidding or adumbrated in such statements will not be realized.
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