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Trust Co. of New York. "This credit facility will enable the company to return to paying retail store rents on a current basis and to resume its manufacturing activities at the level necessary to ensure that the retail stores will be adequately stocked for the spring and summer seasons, during which the company historically generates the bulk of its annual sales,” the company claims.
Louis J. Cappelli, chairman of the board of Sterling National Bank, in announcing the availability of the line of credit, said, “Sterling National Bank is pleased to provide this credit accommodation to Aileen in order to facilitate its reorganization under Chapter 11, preserve jobs and allow Aileen to continue to be a strong contributor to the local econimies in which it operates.”
Sterling National Bank, he added "is a recognized leader in this specialized lending area, and has long experience in lending to fundamentally sound companies in Chapter 11.”
The Flint Hill plant has a new manager who started last week. Ken
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