Kohl's extends store closure, draws down $1 billion credit facility amid coronavirus outbreak
Reuters
Published Mar 30, 2020 02:51PM ET
(Reuters) - Kohl's Corp (N:KSS) said on Monday it would extend the duration of store closure, and fully draw down on its $1 billion revolving credit facility to control damages from the coronavirus pandemic.
The department store operator also said it would cut spending by about $500 million, and that Chief Executive Officer Michelle Gass would not take a salary as it manages through the crisis.
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Written By: Reuters
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