Stage Stores secures final court approval to access cash collateral

By Caroline Salls

Pittsburgh, June 11 – Stage Stores, Inc. obtained final court approval to use the cash collateral of its pre-bankruptcy lenders, according to an order filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, the company said the cash collateral use will ensure it has the liquidity necessary to support its operations in Chapter 11.

The company’s access to cash collateral will terminate on the earliest of entry of an order terminating the company’s right to use cash collateral, conversion or dismissal of Stage Stores’ Chapter 11 cases and the appointment of a trustee or examiner.

Stage Stores is a Houston-based retailer of apparel, accessories, cosmetics and footwear. The company filed bankruptcy on May 10 under Chapter 11 case number 20-32564.

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