Old Time Pottery secures interim court approval to access DIP loan

By Caroline Salls

Pittsburgh, July 2 – Old Time Pottery, LLC obtained court approval to access $32.3 million in debtor in-possession financing on an interim basis, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Middle District of Tennessee.

The final hearing is scheduled for July 22.

Second Avenue Capital Partners, LLC is the DIP financing agent.

The DIP facility is scheduled to mature on Dec. 24.

Interest will accrue at Libor plus 750 basis points.

Old Time Pottery is a Murfreesboro, Tenn.-based home decor retailer. The company filed bankruptcy on June 28 under Chapter 11 case number 20-03138.

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