"We believe our DIP financing will provide us with ample funds to cover the company's financial needs throughout the bankruptcy process," Roll said in the release. "Effective today, Kiel begins new relationships with its vendors and other business partners. Our suppliers should continue to deliver as usual. They should rest assured they will be paid promptly on agreed-to terms for goods and services rendered from this point forward."
How about that - note that he said "from this point forward" - what happened to what was owed at the time of the filing?
For those of you that may not be familiar with "DIP" (Debtor In Possesion) financing and are in business selling to other businesses, you might want to get a good understanding of what it is and how it might affect your business credit decisions.
Some DIP (appropiate term - just my opinion) financing specialists may be talking with your customers now.
Business Credit Insurance
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