
|
LaSalle Retail Finance Closes $10 Million Line of Credit With Super Stores of America, Inc.
PR Newswire, June 20,2003 CHICAGO - CHICAGO, June 20 /PRNewswire/ -- Retail asset-based lender LaSalle Retail Finance announced today that it has provided a $10 million, three-year, revolving credit facility to Super Stores of America, Inc. (d/b/a "Mor Furniture for Less", a leading regional furniture retailer in the western United States). Headquartered in San Diego, CA, the 15 store chain specializes in popular, price-pointed lifestyle merchandise, providing more furniture for less. "We chose LaSalle Retail Finance because of their extensive experience and understanding of the retail industry, " said Jeff Haux, Chief Financial Officer of Super Stores of America, Inc. Barbara Anderson, Senior Vice President of LaSalle Retail Finance, said, "LaSalle Retail Finance is pleased to provide this $10 million credit facility to Super Stores. We believe that the management of this company has done an outstanding job positioning Super Stores to capture market share in its niche. They offer outstanding quality, value and service to their customers which have contributed to their success during these difficult economic times. We are looking forward to providing additional financing as their growth continues." LaSalle Retail Finance, headquartered in Braintree, MA with offices in Philadelphia, PA Los Angeles, CA and Washington D.C., provides asset-based financing arrangements and a full array of commercial bank products exclusively to middle market retailers nationwide. It specializes in senior secured debt facilities for growth, acquisition and restructuring situations, including debtor-in-possession and emergency financing. LaSalle Retail Finance is a division of LaSalle business Credit, LLC (LBC LCC). LBC LCC has more than $8 billion in lending commitments and specializes in providing secured working capital and term financing for middle market companies in the manufacturing, distribution, retail and service industries. LBC LCC has 26 offices throughout the U.S. and Canada and is a subsidiary of LaSalle Bank, one of the Midwest's largest banks with $58 billion in assets. |
