Mr. Butler continued, “In line with this strategy, we refinanced our credit facility on April 20, 2012 and entered into a new two year secured revolving credit facility with Gibraltar Business Capital LLC of up to $5 million based upon eligible accounts receivable of the Company. We believe this new credit facility provides us with the flexibility and borrowing capacity we need to meet our anticipated cash operating needs.”Chromcraft Revington® businesses design, manufacture and import residential and commercial furniture marketed primarily in the U.S. The Company wholesales its residential furniture products under Chromcraft®, Cochrane®, Peters-Revington®, Southern Living®, and CR Kids & Beyond® primary brands. It sells commercial furniture under the Chromcraft® and Executive Office Concepts brands. The Company sources furniture from overseas suppliers, with domestic contract specialty facilities, and operates one U.S. manufacturing facility for its commercial furniture and motion based casual dining furniture in Mississippi and a manufacturing facility for office suites and other commercial furniture lines in California.
Chromcraft Revington, Inc. Reports Fourth Quarter And Full Year Results
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