MISSOULA, Mont. -

A well known Montana retailer is weighing its options, after losing a line of credit from one of its major lenders.

Vann's, the appliance and electronics company has issued a release saying it is working with other lenders while evaluating how to restructure.

The release goes on to say the corporation is considering Chapter Eleven bankruptcy.

Last month, Vann's announced the arrival of a new chief executive, Jerry McConnell.

NBC Montana talked to Jerry McConnell today.

He told me that just a week ago, Vann's had a "handshake" agreement with G.E. Capitol which is one their largest lenders. However, that agreement never materialized.

The stores will still continue full operations. Vann's was started by Pete Vann in 1961. It is billed as the largest independent retailer in Montana.