FRESNO, Calif - Gottschalks Inc., a department store company, said it has won an agreement from Wells Fargo Bank to extend a $75 million line of credit through May 31, 1994.
An existing line is due to expire on June 30. Maximum borrowing can increase to $85 million between Sept. 1 and Dec. 31 for seasonal inventory purchases.
Gottschalks also received approval from Barclays Business Credit for a new line of up to $50 million through May 1998. Half would be used to reduce outstanding borrowings from Wells Fargo, and the rest would be used for working capital.