LEWISVILLE, Texas -- Fleming Cos. Inc. said yesterday that in connection with its Chapter 11 bankruptcy filing, it has received a $50 million interim debtor-in-possession (DIP) financing commitment from its existing lenders as a bridge to a permanent $150 million DIP financing package.

“This interim financing represents an important first achievement in our reorganization process,” said Peter Willmott, Fleming's interim president and CEO. “With this financing and the support of our vendors, we can deliver on our commitment to provide Fleming's customers with the goods they need, when they need them. To that end, we are developing, in connection with the permanent DIP facility, a vendor support program that will provide important financial assurances to our trade partners.

ALEXANDRIA, Va. -- At the beginning of 2003, more than 10,000 retail assets were on the market, confirming that convenience retailers are, indeed, in a turbulent marketplace, according to the National Association of Convenience Stores. The new NACS Corporate Financial Symposium will provide an in-depth look at financial matters to help businesses pursuing a growth strategy, exit strategy or other strategy. The event will take place May 20-23, 2003, at the Hyatt Regency Chicago O’Hare.

The symposium will include sessions on the current state of capital markets for convenience store operators; financing alternatives: the right structure needs to balance objectives for growth, flexibility, risk profile and exit strategy; restructuring: options for over-leveraged companies; liquidity and exit strategies: cashing in on value created; valuation: maximizing value in a difficult market; and elements of a successful growth strategy: how to create value on the buyside.