Leslie Fay Bank Facility Is Extended but Reduced

NEW YORK - A bank group led by Citicorp has extended debtor-in- possession financing for Leslie Fay Cos. through Dec. 15, but cut the amount available to the bankrupt apparel manufacturer to $80 million from $100 million.

The company said it does not need as much because it is shrinking.

U.S. Bankruptcy Court for the Southern District of New York has scheduled a hearing on the extension for Wednesday.

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