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Friedman's lenders limit access, company may file for Chapter 11
By Jeff Pines
Washington, Jan. 12 - Friedman's Inc. said its lenders have limited access to the company's credit facility and it may have to file for Chapter 11.
Without access to cash, the company has not been able to satisfy all of its cash requirements.
Earlier this month, the Savannah, Ga.-based jewelry chain said it was not in compliance with various covenants of its credit facility.
Discussions with the company's lenders continue, it said, and Friedman's is reviewing strategic alternatives.
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