Sport Chalet, Inc. announced today that it has signed a new expanded senior credit facility with its existing lender, Bank of America, N.A. The new senior credit facility expands total availability to $70 million from $40 million and expires in June 2012.
“As we work to position our company for the future, and continue to take a long-term approach to managing our business, this increased capacity provides us with additional financial flexibility and enhances our capital structure. In addition, given the current environment, we believe our ability to secure this financing is a clear indication of the continued support that our lender has in our business strategy,” stated Chairman and CEO Craig Levra.
