INGLEWOOD, Calif., Oct. 23, 2001 (PRIMEZONE) -- Signature Eyewear (OTCBB:SEYE) today announced that it received an extension of its bank forbearance agreement from October 31, 2001 to December 17, 2001.
"This extension allows us more time to continue the process of refinancing our credit facility," said Michael Prince, chief financial officer of Signature Eyewear.
Signature Eyewear is a leading designer and marketer of prescription eyeglass frames and sunglasses under internationally recognized brand names such as: Laura Ashley Eyewear, the premier feminine collection; Eddie Bauer Eyewear, the casual lifestyle collection for men and women; bebe eyes, sexy provocative eyewear for the contemporary woman; Hart Schaffner & Marx, the distinctively masculine collection; Nicole Miller Eyewear, a fun, whimsical collection for the style-conscious modern woman. Signature Eyewear's proprietary brands include: Dakota Smith Eyewear, "The Original American Design"; Camelot and The Signature Collections. Signature Eyewear's products are sold in the United States and internationally to opticians, optometrists and ophthalmologists and to major international retail chains. For more information about Signature Eyewear call 1-800-765-EYES or visit the company's Web site at www.signatureeyewear.com.
This news release contains certain forward-looking statements that involve risks and uncertainties. Such statements include the company's ability to refinance its credit facility, which is subject to many conditions, some of which are beyond the control of the company. No assurance can be given that the company will be able to refinance the facility.