Select Comfort Postpones Reporting, Amends Credit Agreement
March 3, 2009
Minneapolis-based bedding retailer Select Comfort Corp. (SCSS), will postpone reporting results for its fiscal fourth quarter and full year ended Jan. 3.
The retailer also said it has amended its credit agreement effective Feb. 28. Terms of the agreement defers to March 31 a reduction in the amount available under the line of credit as well as waives certain covenants until the same date. Select Comfort's $90 million line of credit was scheduled to be reduced to $85 million March 1.
The release also said the company has been “exploring a range of strategic and financing alternatives to enhance its financial flexibility.”
Select Comfort has about 450 company-owned stores located across the United States.
The retailer also said it has amended its credit agreement effective Feb. 28. Terms of the agreement defers to March 31 a reduction in the amount available under the line of credit as well as waives certain covenants until the same date. Select Comfort's $90 million line of credit was scheduled to be reduced to $85 million March 1.
The release also said the company has been “exploring a range of strategic and financing alternatives to enhance its financial flexibility.”
Select Comfort has about 450 company-owned stores located across the United States.
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