WOODBURY, NY-Levitz Furniture, a chain that was acquired late last year by private-equity firm Prentice Capital Management, has received an $89-million credit facility. The funds, arranged by Banc of America Securities, LLC and Back Bay Capital Funding LLC, will be used to “revitalize” the company, according to management, which will include the opening of new stores.

This month, the 78-store chain will open stores in Staten Island, NY; Paramus, NJ; Farmingdale, NY; Hawthorne, CA; and South Sacramento, CA. The company also plans to open new stores in Summerlin, NV; Murrieta, CA; and Valley Stream, NY; by the end of the year.

Prentice, the owner of other retail ventures, like mall-based toy retailer KB Toys, bought Levitz in December for about $70 million. The furniture chain had filed for Chapter 11 bankruptcy protection in October.

Levitz’s store count is down from 121 units at the time of its filing. Prentice has announced plans to close eight stores in the Connecticut and Philadelphia markets, exiting those markets, as it aims to focus on California and New York City metropolitan area.

Levitz previously filed for bankruptcy, in 1997, from which it emerged in 2001. During that period the company closed about half of its stores, leaving it with about 60 units.

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