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YOUNGSTOWN, Ohio - The U.S. Bankruptcy Court here has approved Phar-Mor's application for $135 million in debtor-in-possession financing from Fleet Retail Finance. John Ficarro Phar-Mor's senior vice president and chief administrative officer, said PharMor will use the financing, approved on Oct. 23, to fund dayto-day operations during its current restructuring program.
In addition, PharMor in mid-October raised approximately $65.5 million in two separate auctions of its pharmacy files and its front-end and prescription inventories. The $65.5 million was "substantially more" than...