NEW YORK - A New York bankruptcy court approved a $250 million debtor-in-possession loan to Bradlees Stores Inc. over the objections of BankersTrust New York Corp. which said the DIP loan was too large.

Bradlees, a unit of Bradlees Inc., Braintree, Mass., said the loan from Chemical Bank will provide cash and liquidity to conduct its operations and pay for merchandise shipments while it prepares a reorganization plan.

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