Owner of Avenue Clothing to get $25 million loan

Tags: Specialty Stores A Manhattan judge ruled today that United Retail Group Inc., owner of the Avenue plus-size women's clothing stores, may borrow $25 million on an interim basis in bankruptcy, according to Bloomberg. U.S. Bankruptcy Judge Stuart Bernstein said he was prepared to approve the loan subject to minor changes in the wording of the agreement. The company claims it needs the loan, which could increase to $40 million on a final basis, to keep operating while it tries to sell itself to the highest bidder. The owner of 433 stories has struggled with liquidity issues since its