Family Christian granted interim access to lenders’ cash collateral

By Kali Hays

New York, Feb. 19 – Family Christian Stores received interim access to use the cash collateral of its pre-bankruptcy lenders through March 20, according to a Thursday order from the U.S. Bankruptcy Court for the Western District of Michigan.

Family Christian will use the collateral to continue business operations while in bankruptcy.

The lenders are FC Special Funding, LLC and Credit Suisse AG, Cayman Island Branch, according to the order.

A final hearing to approve use of the collateral is set for March 19.

Family Christian, a Grand Rapids, Mich.-based retailer, filed for bankruptcy on Feb. 11. The Chapter 11 case number is 15-00643.

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