Lolli and Pops Gets Bankruptcy Loan OK After Rent Pay Assurance

Bankrupt candy retailer Mishti holdings LLC, which owns the Lolli and Pops brand, got the go-ahead to spend the rest of its $7 million bankruptcy loan from lender Paxion Capital LP after resolving concerns from landlords over rent.

U.S. Bankruptcy Court Judge Christopher S. Sontchi said he would approve the financing after Paxion and Mishti assured the court there was enough flexibility in the budget to cover all outstanding rent payments.

Several shopping mall landlords had objected to the San Francisco-based company’s request for continued bankruptcy financing, saying neither the loan documents nor the proposed reorganization plan adequately budgeted for ...