{"id":903,"date":"2013-06-14T08:48:58","date_gmt":"2013-06-14T03:18:58","guid":{"rendered":"http:\/\/indonesia-furniture.com\/news\/2013\/06\/14\/wachovia-throws-shermag-a-lifeline\/"},"modified":"2013-06-14T08:48:58","modified_gmt":"2013-06-14T03:18:58","slug":"wachovia-throws-shermag-a-lifeline","status":"publish","type":"post","link":"https:\/\/indonesia-furniture.com\/articles\/wachovia-throws-shermag-a-lifeline\/","title":{"rendered":"Wachovia throws Shermag a lifeline"},"content":{"rendered":"<p>Robert Gibbens, The Montreal Gazette<br \/>\n             <!--adsense--><br \/>\nShermag Inc., the Quebec furniture maker struggling to overcome a three-year flood of low-cost imports from China and other parts of Asia, has signed a $65 million pact with Wachovia Finance Corp.<br \/>\n <!--more--><br \/>\n (Canada) that will help it finance the completion of its massive restructuring.<br \/>\nCEO Jeff Casselman said the new financing package wih the Canadian subsidiary of U.S. banking giant Wachovia Corp. consists of a term loan of up to $10 million, plus access to a further $55 million.<br \/>\nThe money will go to repay existing debt and back Shermag&#8217;s conversion from a mass-market operator to &#8220;made-to-order&#8221; manufacturing.<br \/>\n\u00c2\u00a9\u00c2\u00a0The Montreal Gazette<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robert Gibbens, The Montreal Gazette Shermag Inc., the Quebec furniture maker struggling to overcome a three-year flood of low-cost imports from China and other parts of Asia, has signed a $65 million pact with Wachovia Finance Corp.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-903","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=903"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/903\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}