Posted by: Patrick Barbanes | December 9, 2008

Reports that BofA to extend loan to Republic Windows

It looks like there may be some resolution! Here’s a report from the Charlotte Business Journal:

Tuesday, December 9, 2008 – 4:07 PM EST

BofA to extend loan to closed plant

Bank of America Corp. says it is prepared to provide a limited amount of additional loans to Republic Windows & Doors to help resolve employee claims.

Workers at the Chicago manufacturing plant have staged a sit-in because of the company’s abrupt closing.

BofA didn’t specify the amount of credit it would extend.

According to The New York Times, executives at Republic Windows and Doors said they needed BofA to restore its line of credit to allow them to pay workers severance and vacation time. BofA cut the line of credit last week.

http://www.bizjournals.com/charlotte/stories/2008/12/08/daily23.html?ana=from_rss

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