RETAILING

Wherehouse Posts Loss; Reprieve Granted: The troubled company posted a net loss of $7.4 million on revenue of $104 million for its first quarter ended April 30. The Torrance-based retailer of video and music products said it is not in compliance with its credit agreements. However, senior lenders agreed not to take any action through Sept. 30 and to allow Wherehouse Entertainment Inc. to continue using its $45-million working capital line of credit. Wherehouse said it has begun negotiations to restructure its debt.