Bankrupt Muji U.S.A. Approved to Tap $2.6 Million From Parent

Muji U.S.A. Ltd. received court approval to tap a $22 million loan package from its parent company as the home goods retailer looks to right-size its physical footprint in bankruptcy.

The U.S. entity of Japanese retailer Muji can immediately access up to $2.6 million in interim financing from Ryohin Keikuku Co. Ltd., Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware ruled Tuesday during a telephonic hearing.

The company will seek final access to the Chapter 11 financing agreement once an unsecured creditors committee is in place to examine provisions related to liens asserted by ...