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Boxed gets interim access to cash collateral of first-lien lenders
By Sarah Lizee
Olympia, Wash., April 5 – Boxed, Inc. received interim approval to access the cash collateral of its prepetition first-lien secured lenders, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
Currently, the company has about $41.5 million outstanding under a first-lien credit agreement with Alter Domus as administrative agent.
Boxed intends to fund and protect its near-term operations and cover administrative expenses through access to the cash collateral.
A final hearing is scheduled for April 26.
Boxed is a New York-based e-commerce technology company that provides bulk pantry consumables to business and household customers. The company filed bankruptcy on April 2 under Chapter 11 case number 23-10397.
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