Vantage Travel obtains secured financing after tweaking request

Chicago, July 7 – Vantage Travel Services, Inc. was granted access to secured financing after modifying its request, according to an interim order filed with the U.S. Bankruptcy Court for the District of Massachusetts.

The debtor may obtain secured debtor-in-possession financing up to $440,895 from United Travel Pte. Ltd.

United Travel has agreed to acquire the debtor’s business. With the financing motion was a related sale motion.

The company was also seeking access to the cash collateral of the debtor’s prepetition senior secured lenders, the Henry R. Lewis Trust and Henry R. Lewis.

A final order is expected July 20.

The company is seeking up to $1 million of secured post-petition financing under the final order, including $750,000 from the purchaser, inclusive of the initial advance mentioned above. Vantage Travel will also be seeking $250,000 in the form of a DIP note from the trust.

Vantage is a Boston-based river cruise, small ship cruise and escorted land tour operator. The Chapter 11 case number is 23-11060.

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