Orchard Supply Hardware Stores Corp. won court permission to access crucial financing as it embarks on a chapter 11 case that it hopes will end in a swift sale to Lowe's Co. or a higher bidder, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Christopher S. Sontchi yesterday cleared the retailer to tap a $176.3 million bankruptcy financing package from lenders led by Wells Fargo Bank. The judge will consider giving Orchard his final approval for the loans at a hearing July 15.
