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 FINAL COURT APPROVAL OF DIP FINANCING
HOUSTON, TX, June 27, 2000 - - Stage Stores, Inc. today
announced that its three year, $450 million debtor-in-possession
credit agreement with Citicorp USA, Inc. as agent (the "DIP
Financing") was given full and final approval by the U.S.
Bankruptcy Court for the Southern District of Texas in an order
dated June 26, 2000.
Jack Wiesner, Chairman, interim Chief Executive Officer and
President, commented, "We are pleased to receive final court
approval for the full amount of the DIP Financing. This
financing will help ensure that the company has significant
liquidity to meet 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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