Daily News Record, July 17th, 1991
SEATTLE (FNS) -- Financially troubled Frederick & Nelson has negotiated a preliminary agreement with a group of private investors that will give the cashstrapped department store a capital transfusion of "at least $15 million."
The 10-store chain also will restructure its operating line of credit and long-term mortgage notes "to provide the necessary support for our operations through 1996," according to a confidential letter to key resources from David J. Taylor, F&N's chief operating officer.
DNR was able to secure a copy of that letter.
Taylor wrote that F&N is "well along in our discu...
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