Two banks to cut $265m in credit for struggling Talbots

But 3d lender grants firm $18m extension

By Robert Weisman

Globe Staff / April 16, 2008

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A pair of lenders has notified Talbots Inc. they will no longer provide credit totaling $265 million to the financially troubled women's clothing retailer, even as Talbots negotiated an extension of a smaller $18 million line of credit with a third lender, according to a company filing with the Securities and Exchange Commission yesterday. (Full article: 509 words)