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Bankers Cut Macy's Some Slack


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BANKERS CUT MACY'S SOME SLACK

R. H. Macy & Co. got a respite from its financial struggles. The company, which lost $150 million for the year ended Aug. 3, said it will only have to pay its revolving bank loans down to $150 million over the next two months. The original terms called for Macy to pay the loans down to $1 million. Even so, analysts say the move indicates that the company may need further debt restructuring after Christmas.EDITED BY G. DAVID WALLACE


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