From news wire:

“Clothing retailer Talbots Inc. said Monday it has amended its secured revolving loan agreement with shareholder Aeon Co. to repay all of its outstanding third-party bank debt.”

“The amendment is part of a larger plan for Talbots to merge with holding company BPW Acquisition Corp.” - AP via Yahoo

“With this satisfaction of all of our outstanding third-party debt and the elimination of our year-end maturities, we can now more closely focus on completing the merger between Talbots and BPW to deliver greater shareholder value,” Talbots’s chief executive, Trudy F. Sullivan, said in a statement.” - NYT DealBook

Looking good….