Clothing chain gets a lifeline

Article Abstract:

Moorestown, Penn.-based Today's Man Inc. has reached an agreement with Mellon Bank which will provide the clothing retailer with $35 million from over two years. The company, which lost $3.1 million in the first three fiscal quarters ended Oct. 30, also announced that it has hired New York, NY-based Wasserstein Perella and Co. Inc. to search for more financing.

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Merger to unite 2 realty trusts

Article Abstract:

Conshohocken, Penn.-based Kranzco Realty Trust has signed a merger agreement with Plymouth Meeting, Penn.-based Montgomery CV Realty L.P. The merger will create a company with $800 million in assets called Kramont Realty Trust.

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Pottstown bank reduces role in online venture

Article Abstract:

The Patriot Bank of Pottstown will cease to operate Bankzip.com, the online banking venture it formed with several small banks due to fears of a huge revenue loss. The online service will instead become a separate company.

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