Tag: Avoids

San Diego County avoids more business closures due to virus

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FILE – In this Sept. 2, 2020, file photo, a woman wears a mask as she walks on campus at San Diego State University in San Diego. A coronavirus outbreak of more than 700 cases reported at San Diego State University has put all of San Diego County, with more than 3 million people, at risk of having to close indoor dining and shopping, many for a third time under California guidelines.

AP

San Diego County has been spared having to close businesses under California’s revised system for reopening the economy.

An outbreak at San Diego State University has caused a surge of cases in the county. But the latest weekly figures released by the state on Tuesday showed the county still was able to keep its case levels just below a level that would have required new business closures.

San Diego State has nearly 850

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J.Jill Avoids Bankruptcy as Out-of-Court Restructuring Plan Gets Lenders’ Consent

J.Jill Inc. has managed to avoid filing for bankruptcy.

The struggling womenswear retailer announced late last night that it has obtained the necessary consents from its term loan lenders to move forward with an out-of-court restructuring transaction. According to a statement, the agreement not only frees the company from its financial covenants, but also extends certain debt maturities and provides its business with additional liquidity to continue operations amid the coronavirus pandemic.

With the deal, J.Jill is able to defer certain debt payments to 2024 and waive all existing non-compliance with the terms of its credit facilities. It has also been granted a financial covenant holiday until the fourth quarter of 2021 and received a new cash infusion of $15 million in the form of a junior term loan. It is expected to close on or about Sept. 30.

“The transaction provides J.Jill with the financial flexibility to continue to

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