AMERICAS DISTRESS DAILY: Retailer Gabe’s Nears Debt Revamp Deal

Warburg Pincus-backed Gabe’s is closing in on a deal that would hand over control of the discount retailer to some of its lenders, according to people with knowledge of the situation.

• The out-of-court deal, which would slash the company’s debt, could close as soon as this week, said the people, who asked not to be identified as the negotiations are private

In Other News:

• Spirit Airlines Inc. borrowed $275 million via a revolving credit facility to avert a looming cash crunch that had threatened to cut off the company’s ability to accept credit card payments from customers.
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