Exhibit 99.1
FOR IMMEDIATE RELEASE MEDIA CONTACT
Wendy Wall
Vollmer Public Relations
([email protected])
713/546-2230
INVESTOR RELATIONS CONTACT
Bob Aronson
800-579-2302
STAGE STORES ANNOUNCES NEW CREDIT AGREEMENT
HOUSTON, TX, June 7, 2000 - - Stage Stores, Inc. today
announced a three year $450 million debtor-in-possession credit
agreement with CITICORP USA, INC. as agent. The company also
announced that the credit agreement was approved by the U.S.
Bankruptcy Court for the Southern District of Texas in an interim
order dated June 2, 2000. The interim order approved borrowings
of up to $385 million.
Jack Wiesner, Chairman, interim Chief Executive Officer and
President, commented, "This new credit agreement provides the
company with significant liquidity to help ensure we can meet all
of our financial obligations in the ordinary course of business."
Stage Stores, Inc., brings nationally recognized brand name
apparel, accessories, cosmetics and footwear for the entire
family to small towns and communities throughout the United
States. The company currently operates more thanover 600 stores
in 33 states, primarily under the Stage, Bealls and Palais Royal
names.
Any statements in this release that may be considered
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially. These
risks and uncertainties are discussed in periodic reports filed
by the company with the Securities and Exchange Commission that
the company urges investors to consider.
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