EveryWare Global gets some breathing space
Home & Textiles Today Staff -- Home Textiles Today, July 1, 2014
Lancaster, Ohio – Looks like EveryWare Global is getting a little more time.
The company announced today that it entered into an amendment to extend its agreement with lenders under its term loan agreement through July 15. In addition, EveryWare entered into a further amendment to its asset backed loan agreement with the lenders under its ABL facility to extend the increased availability under that facility, also through July 15, 2014.
"The agreements with our lenders provide the time we need to negotiate a long term financing solution. We thank our partners for their continued support,” said Sam Solomon, ceo.
In May, the company temporarily shut down its Lancaster, Ohio and Monaca, Penn. factories in an effort to conserve cash and reduce glassware inventory. Those facilities have since reopened.