Strouds has arranged $50 million in financing from CIT Group/Business Credit and Foothill Capital Corp. to bankroll its reorganization. Strouds is also closing four stores in Illinois, three in California and one in Nevada.
The City of Industry, CA-based retailer will have one store remaining in the Twin Cities - its store at the Galleria shopping center in Edina - after its 20,000-sf store at the Fairdale Shoppes shopping mall closes sometime in the next two to three months.
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