FFP Must Count on Receivables

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FFP Must Count on Receivables

11/03/2003
FORT WORTH, Texas -- FFP Operating Partners LP, which filed for Chapter 11 bankruptcy on Oct. 23 this year, must count on its receivables in order to continue operating its 280 stores, according to The Deal.com.

The company won the use of cash collateral this week and will rely on that funding until its next major court date, Nov. 19, The Deal.com reported, citing the chain's lawyer, Mark Petrocchi of Colvin & Petrocchi LLP in Forth Worth.

FFP will then seek an extension of the use of its cash collateral since it has no plans to seek debtor-in-possession financing, Petrocchi said, according to The Deal.com.