Encina Business Credit Acts as Agent in National Stores Bankruptcy

Choate represented Encina Business Credit, LLC in its capacity as administrative and collateral agent in connection with a $100,000,000 senior secured credit facility entered into as part of a debtor-in-possession financing made to discount retailers National Stores, Inc. Choate also represented Encina in connection with the workout of National Stores’ prepetition credit facility.

National Stores, which operates under the Fallas brand and others, filed for Chapter 11 relief on August 6, 2018. The company has locations in 22 states and Puerto Rico, and plans to close 74 of its 344 stores as part of a reorganization plan in an effort to survive bankruptcy. More information about National Stores’ filing can be found here.