North West Reaches New Loan Agreement

WINNIPEG, Manitoba — North West Co. here said it has reached agreement on a $52 million (U.S.) loan facility to replace a current loan maturing in December.

WINNIPEG, Manitoba — North West Co. here said it has reached agreement on a $52 million (U.S.) loan facility to replace a current loan maturing in December.

The new credit facility is secured by a floating charge against the assets of North West, which operates 229 stores under the Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U- Less banners in Canada and the Caribbean. It has annual sales of around $1.5 billion.