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Article Date: February 2018
Word Count: 432

Sheikh Gets $4 Million Credit Line from Nike


The bankruptcy court approved Sheikh’s request to receive an emergency $4 million line of credit from the Eager Beavertons that would provide merchandise for the critical February selling season that includes the NBA All-star game in Los Angeles, its home market. Nike has agrees to provide merchandise under the terms of the credit agreement and in return will become the senior lien holder on all Sheikh’s assets except for the original secured lender, State Bank & Trust. The entire loan must be repaid 30 days from the court’s order Jan. 31, subject to Sheikh also paying some $3.5 million in ... Log in to view full article.

 


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