Perkins & Marie Callender’s $5.5 million interim DIP loan approved

By Caroline Salls

Pittsburgh, Aug. 7 – Perkins & Marie Callender’s, LLC received court approval to access $5.5 million of a proposed $7.75 million in debtor-in-possession financing on an interim basis, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Sept. 11.

Bank of America, NA is the DIP financing agent.

Interest will accrue at the Prime rate plus 600 basis points.

The DIP facility will mature in three months, or on the sale closing date if it occurs before then.

Perkins & Marie Callender’s is a Memphis-based operator and franchiser of full-service restaurants. The company filed bankruptcy on Aug. 5 under Chapter 11 case number 19-11743.

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