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Court accepts A&P's DIP facility
MONTVALE, N.J. — Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.
As previously reported, A&P filed for bankruptcy on Sunday and will keep its 395 stores open and operational during the proceedings.
In addition, the court granted A&P's motion to approve its request for "first day orders," including:
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Dr Pepper Snapple Group promotes two execs
PLANO, Texas - Two members of the Dr Pepper Snapple Group executive leadership team have been promoted to the level of executive vice president, the company announced.
Effective Jan. 1, 2011, David Thomas, Ph.D., is EVP research and development, and Tina Barry becomes EVP corporate affairs. Both continue to report directly to Larry Young, DPS president and CEO.