Tuesday, March 28, 2017

Gordmans owes Wells Fargo about $57 million; future of company's assets remains uncertain

Gordmans’ largest creditor appears to be Wells Fargo, which is owed about $57 million for loans made to the bankrupt department-store chain.
California-based Wells Fargo, the nation’s second-largest bank by assets, is owed about $29 million for a revolving credit line and about $28 million for a term loan, according to filings late Monday in U.S. Bankruptcy Court in Omaha. Both debts, the filings say, are collateralized by “all assets” of Gordmans.

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