Body Central Corp., the struggling women’s clothing retailer, said lender Crystal Financial LLC has terminated its $17 million credit line, dealing another blow to a company that’s already exploring bankruptcy according to a Bloomberg news story.
The lender is cutting the loan because of a notice of default this week from holders of $18 million in debt, Body Central said today in a regulatory filing. Bloomberg reports the Jacksonville, Florida-based retail chain said it doesn’t currently owe any money to Crystal.
The Bloomberg article notes the company is preparing a bankruptcy filing that may come within days.
To view the Bloomberg story in its entirety, click here.