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USA Discounters obtains final court approval to use cash collateral
By Caroline Salls
Pittsburgh, Sept. 17 – USA Discounters, Ltd. received 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 District of Delaware.
The cash collateral will be used for working capital and to fund the company’s operations while in bankruptcy.
According to the order, the cash collateral use will be governed by a 13-week budget.
USA Discounters, a Norfolk, Va.-based retailer, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 15-11755.
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