BRIEF-Summer Infant enters into amended credit agreement (SUMR)
Oct 20 (Reuters) - Summer Infant Inc
* Summer Infant enters into amended credit agreement
* Summer Infant - amended existing credit facility to provide near-term financial flexibility as result of bankruptcy filing by Toys "R" Us on Sept 18
* Summer Infant - bankruptcy of Toys "R" Us negatively impacted net revenue of Summer Infant by approximately $2.3 million during Q3
* Summer Infant Inc - as part of amendment, Summer Infant's lenders waived any loan violations that may have occurred due to certain "overadvances"
* Summer Infant - expects charge of about $2.1 million in Q3 as allowance for bad debt related to pre-bankruptcy petition accounts receivable from Toys "R" Us
* Summer Infant - the "overadvances" were made after Toys "R" Us receivables were no longer deemed "eligible accounts" under credit facility's revolver base Source text for Eikon: Further company coverage:
See Also: