Upscale mall candy store chain Lolli and Pops Inc. has reopened all shuttered stores and secured a $3 million cash infusion as part of its bankruptcy organization.
U.S. Bankruptcy Court Chief Judge Christopher S. Sontchi approved the company’s bankruptcy financing at a hearing in Wilmington, Del., Aug. 14.
Paxion Capital, LP, which guaranteed a loan for the candy company in the past, agreed to provide the $3 million as part of up to a total of $7 million debtor-in-possession financing. The new money will allow Lolli and Pops to restructure after a liquidity crisis forced the company to stop paying ...
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