Dean & DeLuca Gets Bankruptcy Loan After Lawyers Pay Up

U.S. Bankruptcy Judge Michael Wiles says in a hearing Wednesday he’ll allow Dean & DeLuca Inc. to access a $2.4 million debtor-in-possession loan to fund operations while its lawyers hash out a Chapter 11 exit strategy.

• Following Wiles’s suggestion in a hearing last week, advisers for the high-end grocer slashed their own payment reserves by $45,000 and gave the cash to the co. to help it meet its obligations, William Baldiga of Brown Rudnick says on behalf of Dean & DeLuca
• Dean & DeLuca’s lawyers are “working diligently” to develop a plan to exit bankruptcy, which they hope to get ...