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Movie Gallery defers more payments
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By Cindy Spielvogel -- Video Business, 9/12/2007
SEPT. 12 | Movie Gallery is deferring more interest payments, the chain revealed in a filing with the Securities and Exchange Commission.
The company said it is deferring payments on its first- and second-lien credit facilities as well as on some bonds.
The company said it doesn’t believe the deferments on the loans constitute defaults because it has forbearance agreements in place. It also recently made a forbearance agreement with some bondholders.
