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Bank Credit Facilities
9 Months Ended
Nov. 24, 2012
Debt Disclosure [Abstract]  
Bank Credit Facilities

Note 6 – Bank Credit Facilities   

 

On August 27, 2009, the Company entered into a secured $75 million revolving credit agreement, which was set to expire on August 27, 2012. That credit agreement, which was amended as of January 7, 2011, March 8, 2011 and June 16, 2011, was among Syms as Lead Borrower, Filene’s, LLC (together with the Lead Borrower, collectively the “Borrowers”), the guarantors named therein, the lenders party thereto and Bank of America, N.A., as Administrative Agent and Collateral Agent (the “Credit Agreement”). Subsequent to the Chapter 11 Filings, the Credit Agreement was paid off and terminated on November 18, 2011.

  

At November 24, 2012, the Company had no outstanding letters of credit (“LC”). At February 25, 2012 the Company had an outstanding LC of $1.1 million for a worker’s compensation and general liability insurance standby LC, and an outstanding standby LC of $0.2 million for merchandise, both of which were cash collateralized.

 

Total interest charges incurred for the nine and thirty-five week period ended October 29, 2011 were $0.3 million and $1.1 million, respectively. There was no capitalized interest for nine and thirty-five week period ended October 29, 2011.