Women's clothing retailer Dots LLC won court approval to start drawing on a $36 million bankruptcy loan to keep its stores open while it searches for a buyer, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Donald H. Steckroth on Wednesday granted interim approval to Dots' bankruptcy loan, court papers show. Existing lender Salus Capital Partners LLC, already owed $30.6 million, is providing the loan. The bankruptcy financing package consists of a $20 million revolving credit facility and a $16 million term loan. Judge Steckroth will consider allowing Dots to draw the full amount of the bankruptcy loan at a Feb. 11 hearing.
