This information is provided by The U.S. Business Journal, [Click here to link to their site]

January 8, 2001

 3eSoftware Inc. in Pittsburgh, Pa., which does business as PowerByNumbers.com Inc., has now filed Chapter 7 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed in the filing.  The case number is 00-29853.

 

All-Star Entertainment Inc., Brentwood, Tn., has now filed Chapter 11 in the U.S. Bankruptcy Court in Nashville. No schedules were listed in the filing.  The case number is 00-11189.

 

G-I Holdings Inc., a privately-held Wayne, N.J. building-materials and chemicals company, has now filed Chapter 11. The filing for G-I, which owns GAF Corp., was made as part of its efforts to resolve certain asbestos litigation. The filing, made in the U.S. Bankruptcy Court in Newark, N.J., did not list assets and liabilities. G-I's asbestos problems stem from its acquisition of Ruberoid Co. more than thirty years ago.  The bankruptcy filing for G-I, formerly known as GAF Corp., does not include its Building Matierals Corp. of American unit.

 

Great Atlantic & Pacific Tea Co., the Montvale, N.J. chain of supermarkets, reported a third quarter net loss of $14.5 million. The results included nonrecurring charges of $10.7 million. Its revenue increased 4%--to $2.4 billion.

 

Lernout & Hauspie Speech Products, a Belgian-based software company, will slash its worldwide workforce by 20% as part of a strategy to remain in business. The company, which employs half of its 6,000 workers in the United States, did not detail where the cutbacks would come from. Lernout, which earlier filed Chapter 11 in the U.S. after a $100 million shortfall was discovered at its operations in South Korea, has also been granted protection from creditors in Belgium for six months.

 

Multi Vendor Solutions Inc., Grand Prairie, Tx., has now filed Chapter 7 listing assets of between $500,000 and $1 million and liabilities of between $1 million and $10 million. Multi Vendor Parts Inc., listed at the same address, also filed Chapter 7, listing assets and liabilities of between $500,000 and $1 million each. 

 

Neosho Transportation Co. Inc., Neosho, Mo., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Western District of Missouri.  The company listed assets and liabilities of $426,000 and $703,000 respectively. The case number is 00-31034.

 

Newsmaker Publishing Co., Allison Park, Pa., has now filed Chapter 7 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed in the filing.  The case number is 00-29893.

 

Northeast Women's Healthcare PC, Atlanta, Ga., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia.  No schedules were listed in the filing.  The case number is 00-75900.

 

Physician Health Corp., an Atlanta, Ga. manager of physician practices, filed for bankruptcy protection after years of losses.

 

S&N Express Inc., Halton City, Tx., has now filed Chapter 7 listing assets of less than $50,000 and liabilities of between $500,000 and $1 million. 

 

Slate Products Inc., Hampton, N.Y., has now filed Chapter 11 in the U.S. Bankruptcy Court in Albany. The case number is 00-16575. No schedules were listed in the filing. 

 

Southeastern Medical Clinic Inc., Birmingham, Al., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Alabama. No schedules were listed in the filing.  The case number is 00-07797.

 

Vlasic Foods International Inc., a Cherry Hill, N.J. maker of pickles and other foods which recently reported a first quarter net loss of $149 million on sales of $215 million, has now retained Lazard Freres & Co. to help it explore strategic options, including a possible bankruptcy filing or a sale of the company.

 

January 9, 2001

 Empire of Carolina Inc.  A hearing regarding the sale of certain assets has now been scheduled for 1/17 in the Empire of Carolina Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Paul Singerman, at 305-714-4340.

 

Focal Communications Corp. could lose about $60 million in annual revenue if the Federal Communications Commission closes a loophole that allows companies like Focal to charge for so-called reciprocal compensation.  Since telephone deregulation five years ago, Focal and similar local exchange carriers companies have been able to charge the Baby Bells for local calls that end up on the networks of rival companies. But the FCC is now expected to change the rules, which could cut off a significant source of income for Chicago, Il.-based Focal.  It should be noted that in recent years Focal has been reducing its reliance on reciprocal-compensation revenue, which now accounts for about 30% of Focal's $230 million in fiscal 2000 revenue, down form 81% only four years ago. Focal wants to further reduce that figure to no more than 15%. For a free copy of an article about Focal Communications' potential loss of revenue call 800-407-9044.

 

Kozmo.com Inc., a financially-troubled Manhattan, N.Y. online delivery-service firm, shut down its operations in San Diego, Ca. and Houston, Tx. and laid off 150 employees (5% of its workforce). Kozmo, which earlier said it might run out of cash by the end of the month, is still trying to come up with $30 million in financing. The company still runs delivery operations in nine cities around the U.S.

 

MVP.com Inc., a privately-held Chicago, Il.-based Web-based sporting-goods retailer, said that it cut another thirty-six employees from its payroll, about half of its remaining staff. This is the second round of job cuts the firm has taken since December, when it laid off about eighty workers and closed offices in Boulder, Co. and Austin, Tx.  The company, which was started up just over a year ago with the backing of sports stars Michael Jordan, Wayne Gretzky and John Elway, is still reportedly taking orders for sports and outdoors equipment.  Sportsline.com Inc., another investor, has already decided to write off $100 million that it has pumped into the company.

 

Pseudo Programs Inc. A 1/19 deadline has been set for objections to the sale hearing in the Pseudo Programs Inc. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, David Green, at 212-319-8500.

 

January 10, 2001

 Anicom Inc., a Rosemont, Il.-based distributor of wire and cable products, filed Chapter 11 listing assets and liabilities of $348 million and $206 million respectively. The beleaguered company last month said it would liquidate through a bankruptcy proceeding after it failed to gain additional financing to continue operating. Anicom has been plagued by an accounting scandal that came to light last summer relating to inaccurate bookkeeping going back to 1998. The company made its filing in the U.S. Bankruptcy Court in Chicago.

 

ICG Communications Inc., an Englewood, Co. local-exchange telecommunications carrier which filed for bankruptcy protection in November, is laying off 500 employees (about one-fourth of its workforce).

 

News & Information Services LLC, Lafayette, Co., has now filed Chapter 7 in the U.S. Bankruptcy Court in Denver under case number 00-24803. The firm's assets were reported as less than $100,000 while its liabilities were estimated at less than $10 million.  In addition, listed at the same address and also filing Chapter 7 was News First LLC, which is also known as News Quest LLC. 

 

Parks Metal Products Inc., Indianapolis, In., has now filed Chapter 7. No schedules were listed in the filing.  

 

Trans World Airlines Inc.  The board of Trans World Airlines Inc. has approved a plan to file for bankruptcy protection in conjunction with an agreement to be acquired by American Airlines Inc. of Dallas, Tx.  American, a unit of AMR Corp., will pay $500 million for St. Louis, Mo.-based TWA and assume $3 billion of its aircraft operating leases. Through the acquisition, American gains access to TWA's nearly 200 jets, options for 228 additional jets, 175 gates and 170 airport landing slots, as well as TWA's 26% interest in the Worldspan computer-reservations system. The acquisition must be approved by both the Department of Justice and the U.S. Bankruptcy Court.

 

January 11, 2001

 Loews Cineplex Entertainment Corp., Rumors have surfaced that Loews Cineplex Entertainment Corp., the Manhattan, N.Y.-based movie-theater chain, will shut seventy-two of its screens. One industry source has speculated that the financially-troubled company might also choose to reorganize under Chapter 11 bankruptcy protection. Like many theater operators, Loews is suffering from a glut of movie screens in the market following an expansion binge by many movie companies in the U.S. For its most recent six month period, Loews reported a loss of $87 million on a 7% decline in revenue--to $470 million.

 

Metro Heights Food Service in Eagan, Mn., which is also known as Hollywood Food Service, has now filed Chapter 7 in the U.S. Bankruptcy Court in St. Paul.  The case number is 00-34887. No schedules were listed in the filing. 

 

Service Merchandise Co. Inc., the bankrupt Brentwood-Tn.-based retailer of jewelry and home products, is laying off 1,750 employees (23% of its workforce). The move, in conjunction with other cost-cutting strategies, is aimed at reducing costs by about $35 million and helping to pave the company's way out of Chapter 11 bankruptcy protection.  This is only the latest in a series of streamlining moves for Service Merchandise, which over the past two years has pared its payroll from 25,000 employees to about 7,600. The company operates 218 stores.  Like many retailers, Service Merchandise experienced disappointing holiday-season results.

 

Sunshine Laser Centers Inc., Tampa, Fl., filed Chapter 11. No schedules were listed in the filing. 

 

TDI Canada Inc., Oldsmar, Fl., filed Chapter 11. No schedules were listed in the filing. 

 

Toner Distributing Inc., Oldsmar, Fl., filed Chapter 11. No schedules were listed in the filing.

 

United Environmental Services Inc., St. Petersburg, Fl., filed Chapter 7. No schedules were listed in the filing. 

 

Universal Commerce Inc., San Antonio, Tx., has now filed Chapter 7 listing assets of only $25,000 and liabilities of $2.5 million. 

 

January 12, 2001

 American Homestar Corp. has now filed Chapter 11 in the U.S. Bankruptcy Court in Houston, Tx. along with twenty-one of its subsidiaries. American Homestar, a League City, Tx. manufacturer of prefabricated houses, has been beset by declining sales at the same time as it built up debt after making a series of acquisitions. The firm had already closed some of its manufacturing facilities and last October renegotiated part of its bond debt.

 

Harnischfeger Industries Inc. A 3/5 hearing has been scheduled to consider confirmation of the reorganization plan in the Harnischfeger Industries Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, James Sprayregen, at 312-861-2000.

 

Master Graphics Inc.  A 1/25 hearing has been scheduled to consider the sale of certain assets in the Master Graphics Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, John Butler, at 312-407-0700.

 

North Jefferson Health Systems Inc., Watertown, N.Y., has now filed Chapter 7 in the U.S. Bankruptcy Court in Albany. No schedules were listed in the filing.   

 

Peripheral Vision Infosystems Inc. has seen an increasing employee-turnover rate as a result of cash problems that have resulted in the firm meeting payroll late.  The departing workers have included some top executives.  The company also faces problems on another front, with one of its creditors, Digital Archaeology of Lenexa, Ms., filing suit against Peripheral for paying late on services that Digital delivered. For a free copy of an article about Peripheral Vision Infosystems' financial problems call 800-407-9044.

 

Waste Systems International Inc., a Lexington, Ky.-based hazardous-waste and recycling company, filed Chapter 11 for itself and thirty of its subsidiaries. The company, which recently defaulted on its senior bank debt and missed interest payments on certain notes, said that it has arranged for financing to help it keep operating as it reorganizes.

 

Williams Enterprises Inc., Kansas City, Ks., filed Chapter 7. The case number is 00-23009. No schedules were listed in the filing.