June 1, 2001

Oceangate Forwarding Inc., Gardena, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. No schedules were listed. The case number is LA01-23779-AA. For further information contact the debtor's attorney, Jeyoung Kim, at 213-532-3600.

AIRS Inc., Douglasville, Ga., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed. The case number is 01-66290.

A&M International Service Corp., Miami, Fl., has now filed Chapter 7 in the U.S. Bankruptcy Court in Florida. No schedules were listed. The case number is 01-14760.

Caribbean International Air Cargo Inc., Miami, Fl., has now filed Chapter 7 in the U.S. Bankruptcy Court in Florida. No schedules were listed. The case number is 01-14528.

A 6/30 deadline has been set for filing proof of claims in the E.Spire Communications Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.

IER Corp. Inc., Lawrenceville, Ga., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed. The case number is 01-66421.

LocalBusiness.com Inc., a Fort Lauderdale, Fl. firm that does business as American Digital Media Services Inc., has now filed Chapter 11 in the U.S. Bankruptcy Court in Florida. No schedules were listed. The case number is 01-23262.

May 31, 2001

Pretzel Logic Software Inc., Boston, Ma., has now filed Chapter 7 in the U.S. Bankruptcy Court in Boston. No schedules were listed. The case number is 01-13415.

Solid Surface Manufacturers of new England, Woburn, Ma., has now filed Chapter 11 in the U.S. Bankruptcy Court in Boston. No schedules were listed. The case number is 01-13510.

Vroom Technologies Inc., Denver, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Denver. The firm listed assets and liabilities of less than $10 million each. The case number is 01-16685.

Millennium Television Network Inc., Santa Monica, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. No schedules were listed. The case number is LA01-21726-ES. For further information contact the debtor's attorney, David Tilem, at 818-507-6000.

Trogon Computer Corp., a Duarte, Ca. computer wholesaler, has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets of only $12,000 and liabilities of $1.2 million. The case number is LA01-21682-AA. For further information contact the debtor's attorney, Louvenia Ortega, at 626-333-3328.

Mat Microsystems Inc., Signal Hill, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles, Ca. The company listed assets of only $1,500 and liabilities of more than $3 million. The case number is LA01- 23578-BE. For further information contact the debtor's attorney, Lawrence Fieselman, at 562-304-0912.

HookMedia Inc., a Boston, Ma. firm that does business as Interactive Strategies Inc., has now filed Chapter 11 in the U.S. Bankruptcy Court in Boston. No schedules were listed. The case number is 01-13429.

SRW Hydraulics Corp., Union City, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Oakland. No schedules were listed. The case number is 01-42456.

Pilot Network Services Inc., Alameda, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Oakland. No schedules were listed. The case number is 01-42480.

Redder Motors Inc. in Hayward, Ca., which does business as Hayward Motor Co., has now filed Chapter 7 in the U.S. Bankruptcy Court in Oakland. No schedules were listed. The case number is 01-42451.

Wheelcare Express Inc., Oakland, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in Oakland. No schedules were listed. The case number is 01-42533.

Hyperdrive.com Inc., Pasadena, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets of only $9,000 and liabilities of $534,000. The case number is LA01-23594-KM. For further information contact the debtor's attorney, David Hagen, at 818-992-1940.

Pandy Cameron & Co. of New York Inc., Canaan, Ct., has now filed Chapter 7 in the U.S. Bankruptcy Court in Connecticut. The firm listed liabilities of $2.5 million. The case number is 01-50587.

Seabridge Inc., Palm City, Fl., has now filed Chapter 7 in the U.S. Bankruptcy Court in Florida. No schedules were listed. The case number is 01-32213.

A 6/25 deadline has been set for filing proof of claims in the Ultra Stores Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Laurence May, at 212-752-8000.

A 7/11 deadline has been set for filing proof of claims in the Unitel Video Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Andrew Kress, at 212-836-8000.
A 6/28 deadline has been set for voting on the reorganization plan in the RBX Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court at 540-857-2391.

May 30, 2001

Regal Crown Industries Inc., Tukwila, Wa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Seattle. No schedules were listed. The case number is 01-14371.

Pembrooke Health & Rehabilitation Residence in West Chester, Pa. and Prospect Park Health & Rehabilitation Residence in Prospect Park, Pa., both owned by RHS/Pennsylvania Nursing Homes Inc. of Atlanta, Ga., have now filed Chapter 11. Total assets and liabilities are not known but it is believed that the firms owe their largest creditor more than $29 million.

Redie's International Inc., Overland Park, Ks., has now filed Chapter 11 in the U.S. Bankruptcy Court in Kansas City, Ks. No schedules were listed. The case number is 01-20887.

Mighty K.C. Bat Co. Inc., Kansas City, Ks., has now filed Chapter 11 in the U.S. Bankruptcy Court in Kansas City, Ks. No schedules were listed. The case number is 01-21211.

Indecom Technologies Inc., Charlotte, N.C., has now filed Chapter 7 in the U.S. Bankruptcy Court in Charlotte. The firm listed assets and liabilities of $219,000 and $1.1 million respectively. The case number is 01-31192.

A 6/18 deadline has been set for filing proof of claims in the Northwestern Steel and Wire Co. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court at www.ilnb.uscourts.gov.

May 29, 2001

Cooker Restaurant Corp., a Nashville, Tn.-based chain of sixty-four casual-dining restaurants, has now filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Ohio. The company, which has been struggling to restructure its debtload, last year reported a loss of $3.3 million on sales of $37.4 million. As of the beginning of April, Cooker Restaurant reportedly faced assets and liabilities of $102 million and $115 million respectively.

Castaldi's Market & Grill in Dearborn, Mi. has now seen an involuntary Chapter 11 petition filed against it in the U.S. Bankruptcy Court in Detroit by Taubman Centers Inc.

Adair Construction Corp., Fort Worth, Tx., has now filed Chapter 11 in the U.S. Bankruptcy Court in Texas. The firm listed assets and liabilities of between $1 million and $10 million each.

Marc Allen Custom Homes, Grapevine, Tx., has now filed Chapter 7 in the U.S. Bankruptcy Court in Texas. The firm listed assets and liabilities of between $1 million and $10 million each.

Westgate Fabrics, Grand Prairie, Tx., has now filed Chapter 11 in the U.S. Bankruptcy Court in Texas. The firm listed assets of between $1 million and $10 million and liabilities of between $10 million and $50 million each.

Mexican and Cambridge LLC of Detroit, Mi. has now seen an involuntary Chapter 7 bankruptcy petition filed against it in the U.S. Bankruptcy Court in Detroit. The firm listed liabilities of nearly $2.4 million. No assets were listed.

Digigrafx Inc., Oak Park, Mi., has now filed Chapter 7 in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

Pinewood Industries Inc., Ann Arbor, Mi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

A 5/31 hearing has been scheduled to consider confirmation of the reorganization plan in the Railcar Specialties Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Nebraska at 402-661-7444.

May 25, 2001

Finova Corp., the Scottsdale, Az. commercial lender, has now become the target of a takeover attempt by a group including GE Capital Corp. and Goldman Sachs Group Inc. GE Capital and Goldman Sachs have offered Finova's creditors a deal to manage bankrupt Finova's assets and provide $7 billion in financing to help with its restructuring. That deal, which would have to be approved by the U.S. Bankruptcy Court, would derail an earlier agreement by Finova to be bailed out by Berkadia LLC, a joint venture between Warren Buffet's Berkadia Hathaway Inc. and Leucadia National Corp.

Caretek Inc., Denver, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Denver. The firm listed assets and liabilities of nearly $5.6 million and $5.9 million respectively. The case number is 01-16072. The company also does business as Timberline Colorado and Trailbridge Outfitters.

Haskell-Senator International Inc., Verona, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed. The case number is 01-24328.

Helios Health Inc. in Atlanta, Ga., which also does business as Helios Medical Inc., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed. The case number is 01-66222.

John Baldwin Chevrolet/Buick Co., Holyoke, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Denver. The firm listed assets and liabilities of less than $10 million each. The case number is 01-15780.

Laclede Steel Co., after recently violating terms on one of its loan covenants as a result of having lost $5.9 million in its first quarter, has now put its chain-manufacturing unit on the selling block in an attempt to raise cash. The St. Louis, Mo. maker of steel tubes, pipes and other products, has received word from its lending group, led by General Electric Capital Corp., that the group will hold off on any immediate action in the wake of the covenant violation. For a free copy of an article about Laclede Steel call 800-407-9044.

A 6/31 creditors' meeting has been scheduled in the 1/2 Off Card Shop Inc. Chapter 7 bankruptcy. In addition, a 9/11 deadline has been set for filing proof of claims in the case. For further information contact the debtor's attorney, William Huebner, at 428-203-0783.

A 6/23 deadline has been set for filing proof of claims in the Pillowtex Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, William Sudell, at 302-658-9200.

Premier Screen Graphics Inc., Arvada, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Denver. The firm listed assets and liabilities of less than $1 million each. The case number is 01-15918.

Ultra Stores Inc., Chicago, Il., has commenced its going-out-of-business sale at nineteen of its locations. The move is part of a plan to close at least twenty-five locations. The firm will continue operating more than 100 locations.

May 24, 2001

LTV Corp., the bankrupt Cleveland, Oh. Steel maker, may have to move quickly in its attempts to resolve a labor dispute with its workers or face the possibility of going out of business. LTD, which filed Chapter 11 last December, says it has to cut costs by more than $1 million a day through reductions in employee benefits. LTV's warnings could be in part a bargaining tactic, but observers concede that the company cannot go on losing money for much longer.

A 5/31 hearing has been scheduled to consider the sale of bankrupt Heartland Steel Inc. to Usinor Steel Corp, a unit of Usinor SA of France, for $72 million. Heartland Steel, based in Terre Haute, In., filed for bankruptcy protection in January listing assets and liabilities of $221 million and $315 million respectively. For further information contact the debtor's attorney, James Carr, at 317-237-0300.

A 5/30 creditors' meeting has been scheduled in the Nomus-North Carolina Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Winston-Salem, N.C. at 336-631-5340.

As Seen In Co., a Los Angeles, Ca. importer and exporter, has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets of only $65,000 and liabilities of $11.7 million. The case number is LA01-21546-TD. For further information contact the debtor's attorney, Bradley Brooks, at 310-277-6910.

Thrifty Lavanderia Inc., Los Angeles, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets and liabilities of $10 million and $19.6 million respectively. The case number is LA01-21372-SB. For further information contact the debtor's attorney, David Tilem, at 818-507-6000.

International Ginseng Co. Inc., an Alhambra, Ca. importer and exporter, has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets of only $30,000 and liabilities of $3.5 million. The case number is LA01-21394-AA. For further information contact the debtor's attorney, Arnold Ogren, at 310-556-3023.

Drkoop.com Inc., the Internet healthcare company, still has the confidence of its main investor, Prime Ventures LLC of Santa Monica, Ca. Prime Ventures recently announced a deal to acquire Ivonyx Inc., a Michigan-based provider of intravenous medicines, for an undisclosed amount. The acquisition will quadruple Drkoop's revenue to about $40 million and, along with other acquisitions, will help the company cut its advertising spending.

May 23, 2001

J&C Publishing Inc., Philadelphia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. No schedules were listed. The case number is 01-16513.

American Appliance, Pennsauken, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in Camden. No schedules were listed. The case number is 01-14425.

Ultra Stores Inc., Chicago, Il., has commenced its going-out-of-business sale at its remaining nineteen locations. The retailer, which sought Chapter 11 protection in March, listed assets and liabilities of $76 million and $68 million respectively in its filing.

Cobra Sport Fishing Boats Inc., Egg Harbor, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed. The case number is 01-14277.
Nu Telecom Inc., Watchung, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed. The case number is 01-55141.

K&M Trucking LLC, Fowler, Ks., has now filed Chapter 7 in the U.S. Bankruptcy Court in Wichita. No schedules were listed. The case number is 01-12048.

Sharon Hospital, a financially-troubled nonprofit hospital outside Hartford, Ct., is reportedly engaged in talks to be acquired by Essent Healthcare of Nashville, Tn. The purchase of Sharon Hospital, which has been losing money for a number of years, could be valued at between $25 million and $30 million.

Motorola Inc., Schaumburg, Il., received word that Standard & Poor's has downgraded its long-term corporate credit and senior unsecured debt ratings from A to A-minus. In addition, S&P lowered the company's short-term corporate credit and commercial paper ratings from A-1 to A-2. Motorola, which reported a first quarter operating loss of $206 million, has been trying to reduce costs, having announced plans to pare its payroll by 26,000 employees and reducing operating expenses this year by $2 billion. Most recently, Motorola said it would reduce its payroll by 600 employees at its cellular phone facility in Chihuahua, Mexico.

A 7/13 deadline has been set for filing proof of claims in the Finova Group Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Mark Collins, at 302-658-6541.

May 22, 2001

Lechters Inc., a Harrison, N.J.-based retailer of housewares products, has now filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. In conjunction with the filing the company also arranged $85 million in financing through Fleet Retail Finance Inc. and Back Bay Capital Funding so that it can continue operating as it reorganizes and tries to establish itself among the high-end sellers of kitchen gadgets. Still, some are worried about Lechters' chances of turning itself around. The retailer, which has failed to arrange sufficient credit from its vendors, reported a loss last year of $102 million on sales of $405 million. Over the winter it said it would close 166 of its stores and slash its payroll by 30%. In its filing Lechters listed assets and liabilities of $129 million and $111 million respectively.

Teligent Inc., as expected, filed Chapter 11, after failing to raise $350 million that it needed to meet the terms of an $800 million credit facility. As of the end of last year the Vienna, Va. seller of telephone and Internet services, which has been unprofitable since starting up four years ago, faced long-term debt of more than $1.4 billion and had assets of about $1.2 billion. Teligent's future now seems to lie with IDT Corp., a Newark, N.J. long-distance and calling-card company which over the past month has bought up a large equity interest in Teligent.

Leo Corp., Madison Heights, Mi., has seen an involuntary Chapter 7 petition filed against it in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

Eastpointe Petro Mart Inc., an Eastpointe, Mi. firm that recently filed Chapter 11 in the U.S. Bankruptcy Court in Detroit, has now filed assets and liabilities of $975,000 and $1.2 million respectively.

Wyandotte Collet & Tool Inc., Wyandotte, Mi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

NITP Inc., Washington, D.C., has now filed Chapter 11 in the U.S. Bankruptcy Court in Washington. The firm listed assets and liabilities of $1.8 million and nearly $2 million respectively. The case number is 01-11888.

Webvan Group Inc., the Foster City, Ca. online grocery retailer, reported a first quarter net loss of $217 million. The results included restructuring charges of $73.9 million. Sales nearly quintupled--to $77.2 million.

Perseptron Inc., a Plymouth, Mi. maker of robot-guiding systems for assembly plants, said that it will cut its operating budget by about $5 million in a move to boost its performance. Perseptron plans on achieving the savings by reducing its workforce by about 10%, closing offices in Ann Arbor, Mi. and Portland, Or. and cutting product-development costs. The firm recently reported a third quarter loss of $3.4 million, compared to a $400,000 loss in the year-earlier period.

Etensity, a Vienna, Ca. technology consultant, announced that it is reducing its payroll by fifty-eight employees (23% of its workforce) as part of its efforts to conserve cash.

May 21, 2001

Teligent Inc., a Vienna, Va. seller of telephone and Internet services, is reportedly getting ready to make a Chapter 11 bankruptcy filing. Teligent failed to raise $350 million that it needed to meet the terms of an $800 million credit facility. An extended deadline for meeting the terms of that facility ends today. The company's fate would now seem to lie with IDT Corp., a Newark, N.J. long-distance and calling-card company which over the past month has bought up a large equity interest in Teligent. As of the end of last year Teligent faced long-term debt of more than $1.4 billion and had assets of about $1.2 billion.

Smart Card Retail Systems Inc., Atlanta, Ga., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed. The case number is 01-65696.

HealthTrust Alliance Inc., Lawrenceville, Ga., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed. The case number is 01-65882. .

Quality Technicians Inc., Decatur, Ga., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia. The firm listed unsecured liabilities of at least $2.2 million. No assets were listed. The case number is 01-65883.

Anacomp Inc., a Poway, Ca. management-services firm, has agreed on a deal with its bondholders on a debt-restructuring plan that will turn over all but 0.1% of its equity to the bondholders. Anacomp hopes to reach official approval of the deal by 6/11 but warned that if approval is not forthcoming it may have to resort to a prepackaged bankruptcy filing. Anacomp reported a net loss last year of $114 million on revenue of $383 million.

A 5/29 deadline has been set for filing objections to the reorganization plan in the Heartland Steel Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, James Carr, at 317-237-0300.

Warnaco Group Inc., the Manhattan, N.Y.-based apparel maker, announced that it received a waiver on certain financial covenants from its lenders through 6/15. The company, which faces a debtload of $1.5 billion, has been struggling to avoid defaulting and warned that it may have to sell some of its assets in order to restructure.
A 7/16 deadline has been set for filing proof of claims in the U.S. Office Products Co. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Edward Kosmowski, at 302-571-6600.

May 18, 2001

Bentco Inc., Oregon City, Or., has now filed Chapter 11 in the U.S. Bankruptcy Court in Portland. The firm listed assets and liabilities of $364,000 and $992,000 respectively. The case number is 301-34047. The firm also does business as MSE Utility Construction and Mountain Stream Excavations.

A 7/9 hearing has been scheduled to consider the sale of certain assets in the Finova Group Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Mark Collins, at 302-658-6541.

A 6/8 deadline has been set for filing proof of claims in the Humphrey's Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, James Sprayregen, at 312-861-2000.

Machinery Inc., St. Louis, Mo., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Illinois. No schedules were listed. The case number is 01-43526.

A 6/18 hearing has been scheduled to consider confirmation of the reorganization plan in the Metal Management Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, James Patton, at 302-571-6600.

A 7/3 deadline has been set for filing proof of claims in the Montgomery Ward LLC Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.

A 6/14 hearing has been scheduled to consider the disclosure statement in the SGPA Inc./Grove Holdings Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Jay Goffman, at 212-735-3000.

Pillowtex Corp., the bankrupt Dallas, Tx. maker of pillows, comforters and other textile products, said that it will shutter two factories in Kannapolis, N.C. and Columbus, Ga. and reduce its payroll by 780 employees.

KB Toys, a closely-held Pittsfield, Ma. seller of children's products, has agreed to acquire the Web operations, trademarks and other assets of bankrupt eToys Inc. of Los Angeles, Ca. in a bargain-basement deal valued at $3.4 million. KB, which had earlier acquired eToys' inventory for $5.4 million, will use the eToys assets to enhance its own Web business, KBkids.com, which is one of the few surviving online toy-retailing businesses.

A 7/9 deadline has been set for filing proof of claims in the VF Brands Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Sally McDonald Henry, at 212-735-3000.

Zany Brainy Inc., the King of Prussia, Pa.-based retailer which recently filed Chapter 11, has received a $115 million debtor-in-possession financing package from Wells Fargo Retail Finance.

May 17, 2001

Burbank Aeronautical Corp. II, a Burbank, Ca. developer of aircraft noise-suppression equipment, has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. The firm listed assets and liabilities of $10.1 million and $10.7 million respectively. The case number is LA01-20806-VZ. For further information contact the debtor's attorney, Howard Weg, at 310-552-3100.

Paul Herman Insight Communications, an Encino, Ca. graphic-arts and printing company, has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. The firm listed assets and liabilities of $1.5 million and $1.7 million respectively. The case number is SV01-13242-KL. For further information contact the debtor's attorney, Steven Fox, at 818-774-3545.

ABP Custom Manufacturing Inc. of Monrovia, Ca., which also does business as EZ Direct Sales and NBA Health Products, has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The firm listed assets and liabilities of $1.4 million and $2 million respectively. The case number is LA01-20934-ER. For further information contact the debtor's attorney, Arthur Newton, at 714-560-8300.

Steel-Bilt Construction Co. Inc., Bridgeville, Pa., has now filed Chapter 7 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed. The case number is 01-23468.

CyberRebate.com Inc., a provider of Web-shopping services, filed Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of New York and shut down its retail operations.

AOL Time Warner Inc., in a filing with the Securities and Exchange Commission, estimated that restructuring in the wake of the merger of America Online and Time Warner will cost as much as $1 billion. About $565 million of that is in the form of severance payments related to 2,400 layoffs. Another $400 million stems from its decision to shutter its chain of 150 Warner Bros. stores. AOL Time Warner said that it took first quarter charges related to consolidation and layoffs of $965 million, which will be classified as goodwill and amortized over many years. The Manhattan, N.Y.-based media giant also wrote off $71 million in merger costs during the first quarter.

Comair Inc., grounded by a pilots' strike for nearly two months now, said it will cut twenty aircraft from its fleet, lay off 400 nonunion employees and cut another 200 pilot positions. Cincinnati-Oh.-based Comair and its parent company, Delta Air Lines of Atlanta, Ga., have been losing $4 million a day due to the strike. The cutbacks at Comair are expected to reduce daily losses to between $1.5 million and $2 million. All of Comair's flights have been canceled through mid-July.

Navistar International Corp., a Chicago, Il. maker of trucks and diesel engines, reported its second quarter net dropped 97%--to $3 million. Citing the downturn in the market for heavy trucks, Navistar's revenue for the quarter declined 25%--to $1.8 billion. On the positive side, its meager profit is a turnaround after two quarters of losses. The company also expects to eke out a profit for the third quarter and hopes to be operating in the black for the year. Like many truckmakers, Navistar is suffering from both a glut of trucks on the market after years of overproduction as well as high fuel costs which are hurting the trucking industry.

Hewlett-Packard Co. reported its second quarter net fell 66%--$319 million. The results, which were slightly ahead of analysts' expectations, included writedowns of $103 million and extra charges of $52 million related to calling off an earlier-planned expansion of its inkjet-printer operations. Revenue for the period declined 3.5%--to $11.6 billion. The Palo Alto, Ca.-based maker of computers and printers also warned that the ongoing economic slump could drag down revenue as much as 5% in the third quarter.

Krispy Kreme Doughnuts Inc. saw its stock price jump 14% after it announced strong first quarter results. The Winston-Salem, N.C. chain of donut shops reported its first quarter net soared 89%--to $5.7 million. Total sales at company-owned stores increased 19%--to $61 million, while sales at franchised outlets jumped 52%--to $80 million. Sales at stores open at least one year increased 11%.

Bel Fuse Inc., a Jersey City, N.J. maker of fuses and networking components, has expanded overseas with its purchase of E-Power Co., a Hangzhou, China developer of power-conversion devices, for an undisclosed amount of cash. The Chinese expansion comes close on the heels of Bel Fuse's acquisition of Current Concepts Inc., a closely-held Westborough, Ma. research-and-development company, for an undisclosed amount. Current Concepts specializes in developing power converters.

May 16, 2001

EcoScience Corp., Eatontown, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in San Antonio, Tx. The company listed assets of only $325,000 and liabilities of $17.5 million. The case number is 01-51523. Listed at the same address and also filing Chapter 11 were EcoScience Produce System Corp., Agro Power Development Inc., Village Farms LP, Cogentrix of Pocono Inc., Village Farms of Wheatfield LLC, Pocono Village Farms LP, New Amsterdam Joint Venture, New Amsterdam Management Co., Village Farms of Delaware LLC and Village Farms International Financial Association.

Tandycrafts Inc., sagging under debt, has now filed Chapter 11. The filing was made in the U.S. Bankruptcy Court in Delaware. The firm listed assets and liabilities of $64.5 million and $56.3 million respectively. In recent months the Fort Worth, Tx. maker and retailer of leather products, frames and office supplies has considered strategic alternatives for itself, including putting itself on the selling block. The firm also recently failed to make certain interest payments.

Mike Wolter Riverside Farms Inc., Rosholt, Wi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Milwaukee. The firm listed assets and liabilities of $3.4 million and $3.3 million respectively. The case number is 01-24476.

AmpleSpace Inc., San Jose, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in California. The company listed assets of between $1 million and $10 million each.

Eagle Trim Inc., Inkster, Mi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

ExpressGate Inc., Ann Arbor, Mi., has now filed Chapter 7 in the U.S. Bankruptcy Court in Detroit. No schedules were listed.

McDonough Group Inc., Harpers Ferry, W.V., has now filed Chapter 7 in the U.S. Bankruptcy Court in Alexandria, Va. The firm listed assets of less than $50,000 and liabilities of between $500,000 and $1 million. The case number is 01-80425.

Socrates Solutions Corp., Vienna, Va., has now filed Chapter 11 in the U.S. Bankruptcy Court in Alexandria. The firm listed assets and liabilities of $7.1 million and $16.6 million respectively. The case number is 01-11558.

Zany Brainy Inc., as expected, has now filed Chapter 11. The filing was made in the U.S. Bankruptcy Court in Wilmington, De. The King of Prussia, Pa.-based retailer of children's products has been plagued by a number of problems, including a liquidity crisis, weak sales and higher-than-anticipated costs for integrating Noodle Kidoodle Inc. of Syosset, N.Y., which it acquired last summer for $36 million. Zany Brainy operates 187 stores nationwide.

A 5/21 deadline has been set for filing proof of claims in the Telephone Warehouse Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, White & Case LLP, at 305-371-2700.

Datazone Corp., San Jose, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in California. The company listed assets and liabilities of $353,000 and $2.7 million respectively.

May 15, 2001

Washington Group International Inc., a big Boise, Id. construction company, filed Chapter 11 in the U.S. Bankruptcy Court in Nevada along with twenty-two of its subsidiaries. Another seventy or so partnerships, joint ventures and subsidiaries are not affected by the filing. The company's secured creditors are likely to end up owning the equity assets of Washington Group after reorganization, while unsecured creditors are expected to be paid through the normal course of business or after the reorganization plan is confirmed. Washington Group intends on continuing operations as it reorganizes. The firm is also embroiled in a battle with Raytheon Co. regarding a unit that Washington Group bought from Raytheon last year and whose financial condition it now accuses Raytheon of having misrepresented. In the bankruptcy filing, Washington Group listed assets and liabilities of $3.8 billion and $3.3 billion respectively.

Wheeling-Pittsburgh Steel Corp., a bankrupt Pittsburgh, Pa. steelmaker, has reportedly been holding informal discussions to be acquired by Weirton Steel Corp. of Weirton, W.V. The two steel companies are hoping that a merger would strengthen their position in a competitive steel industry simply by becoming bigger or by becoming more specialized. Wheeling-Pittsburgh reported a loss for its most recent quarter of $19.1 million, nearly double its loss in the year-earlier period. Weirton is also struggling however, having reported a first quarter loss of $75.3 million.

Recra Environmental Inc., a once-highflying Amherst, N.Y. company, has now filed Chapter 11. The firm, which once had 400 employees and offices in five cities in the eastern U.S. and Canada, listed assets and liabilities of $1.5 million and $2.4 million respectively.

Stonebridge Aviation Inc., Latrona Heights, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed. The case number is 01-23843.

Muscle Mixes Music Inc., Orlando, Fl., has now filed Chapter 11 in the U.S. Bankruptcy Court in Florida. No schedules were reported. The case number is 01-03131.

Axcess Global Communications Corp., Metairie, La., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Louisiana. No schedules were listed. Listed at the same address and also filing for bankruptcy protection were Axcess USA Corp. and Axcess Global Communications of America.

Actel Integrated Communication Inc., Mobile, Al., has now filed Chapter 11 in the U.S. Bankruptcy Court for Eastern District of Louisiana. No schedules were listed.

Zany Brainy Inc., a King of Prussia, Pa.-based retailer of children's products, warned that it may file for bankruptcy protection under Chapter 11. The company has been plagued by a number of problems. It has faced a liquidity crisis after one of its lenders, First Union Corp., decided to reappraise Zany Brainy's inventory, a move that left the firm without money to fill its shelves. In addition, the chain of 187 stores has been dragged down since acquiring Noodle Kidoodle Inc. of Syosset, N.Y. last summer. That expansion move turned out to be more costly than anticipated. Zany Brainy has also had disappointing results at its online unit.

May 14, 2001

Max S.B.I. Inc., a City of Industry, Ca. textile company, has now seen an involuntary Chapter 7 petition filed against it in the U.S. Bankruptcy Court in Los Angeles. No schedules were listed. The case number is LA01-17805-TD.

BroadBand Office Inc., a provider of broadband telecommunications services, has now filed Chapter 11. The company recently laid off 90% of its 380 employees.

Marek S. Szymanski Route 66 Trucking, Los Angeles, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets and liabilities of $683,000 and $1.6 million respectively. The case number is LA01-17691-VZ. For further information contact the debtor's attorney, Richard Baum, at 310-277-2040.

Dormont Technologies Ltd., Pittsburgh, Pa., has now filed Chapter 7 in the U.S. Bankruptcy Court in Pittsburgh. The company listed assets of only $1,600 and liabilities of more than $1.5 million.

American Capital Equipment LLC, Wexford, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed. The case number is 01-23987.
Skinner Engine Co. Inc., Wexford, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Pittsburgh. No schedules were listed. The case number is 01-23988.

Regional Health Supply, Arlington, Tx., has now filed Chapter 11 in the U.S. Bankruptcy Court in Texas. The company listed assets of between $1 million and $10 million each.

Pride Restaurants LLC, a franchisee of fifteen Burger King restaurants in Birmingham, Al., is so far offering no explanation for its recent bankruptcy filing. The firm had been growing strongly, and, in fact, reported a 41% increase in sales between 1999 and 2000. Pride Restaurants' problems may stem in part from weak performance at its the parent company, which has also been cited as not giving enough business direction to its franchisees. Pride recently filed Chapter 11 listing assets of between $1 million and $10 million and liabilities of between $10 million and $50 million.

Birmingham Recycling Inc., Birmingham, Al., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Alabama. No schedules were listed. The case number is 01-02411.

Spectrum Management Resources Inc., Pelham, Al., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Alabama. No schedules were listed. The case number is 01-02382.

A 6/4 deadline has been set for filing proof of claims in the Randall's Island Family Golf Centers Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the Southern District of New York at 212-668-2867.

May 11, 2001

Continental Diamond Cutting, Tampa, Fl., has now filed Chapter 11 in the U.S. Bankruptcy Court in Florida. The firm listed assets and liabilities of $6 million and $7.1 million respectively. The case number is 01-07133.

Demand Printing Inc., King of Prussia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. No schedules were listed. The case number is 01-15981.

Great Lakes Paper and Packaging Inc., Amherst, Oh., has now filed Chapter 7 in the U.S. Bankruptcy Court in Cleveland. The firm listed assets of only $800 and liabilities of $514,000. The case number is 01-13675.

Data Systems International Inc., an Overland Park, Ks. hardware, software and consulting company, is scaling back on its hardware-reselling operations in order to focus on software development and consulting. The restructuring resulted in the loss of nearly 100 employees.

A 5/21 creditors' meeting has been scheduled in the DE of Northeastern Ohio Inc./Drug Emporium Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, G. Christopher Meyer, at 216-479-8500.

A 6/11 deadline has been set for filing proof of claims in the Lernout & Hauspie Speech Products NV Chapter 11 bankruptcy. For further information contact the debtor's attorney, Luc Despins, at 212-530-5965.

May 10, 2001

Comdisco Inc., a provider of leasing and other technology services, announced a plan to reduce annual costs by $145 million by reducing its payroll, closing facilities and cutting back on expenses in a number of other areas. The firm has already laid off 250 employees in recent months. Despite the announced intention to restructure, analysts believe that Comdisco may end up putting some of its assets or even the entire company on the selling block. In fact, the firm recently retained Goldman, Sachs & Co. and McKinsey & Co. to help it consider strategic alternatives. In its recent second quarter, the Rosemont, Il. firm reported a second quarter net loss of $54 million, including $100 million in write-offs related to nonperforming loans. Its loss from operations was $8 million. Revenue declined 6%--to $940 million.

Computer Personality Systems Inc., a Pipersville, Pa. company that did business as Video Computer Stores, has now filed Chapter 11. The firm listed assets and liabilities of $7 million and $32.8 million respectively. At the same time the company's owner, George Capell, filed Chapter 7 for himself listing assets and liabilities of $2.9 million and $12.1 million respectively. Computer Personality has been sued by the state of Pennsylvania for allegedly not delivering equipment that it had sold to consumers over television and the Internet.

Exodus Communications Inc. is reducing its payroll by 675 employees (15% of its workforce). The move, aimed at reducing costs, will result in charges of less than $10 million in its second quarter. The Santa Clara, Ca. Web-hosting company has been hurt by the downturn in the dotcom market, recently reporting a first quarter loss of nearly $650 million. That loss included a $395 million noncash charge related to a decline in the value of its investments.

Armstrong Holding Inc., a Lancaster, Pa. maker of floor-covering products, reported its first quarter net declined 34%--to $20.3 million. The firm blamed a decline in sales, higher costs for energy and raw materials as well as more than $5 million in restructuring and bankruptcy-related charges. Sales on continuing operations declined 3%--to $717 million.

Climatic Corp., Newfield, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-13685.

Executive Corporation Services Inc., Allamuchy, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-54279.

Chance Industries Inc., Wichita, Ks., has now filed Chapter 11 in the U.S. Bankruptcy Court in Wichita. No schedules were listed. The case number is 01-11698.

Fairmont Bar & Dining LLC in Bethesda, Md., which is also known as Zygomates, has now filed Chapter 11 in the U.S. Bankruptcy Court in Rockville. The company listed assets of between $500,000 and $1 million each. No liabilities were listed. The case number is 01-15370.

May 9, 2001

Anina Distribution Inc., North Miami, Fl., has now filed Chapter 7. No schedules were listed.

Atlantic Coast Restaurant Equipment, West Palm Beach, Fl., has now filed Chapter 7. No schedules were listed.

Demand Printing Solutions Inc., King of Prussia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. The case number is 01-15979.

Easy Systems Inc., Welcome, Mn., has now filed Chapter 7 in the U.S. Bankruptcy Court in Minneapolis. No schedules were listed in the filing. The case number is 01-41351.

Gerald Stevens Inc., the bankrupt Fort Lauderdale, Fl.-based seller of flowers, says that it will restructure and continue operating despite its current difficulties. The company, which has expanded aggressively in recent years, has now begun trimming its operations, recently selling its Calyx & Corolla and FloraFax units. Gerald Stevens, which lost $5.2 milion on sales of $57.8 million in its most recent quarter, recently filed Chapter 11 in the U.S. Bankruptcy Court in Miami.

Internext Communication Inc., Washington, D.C., has now filed Chapter 11. No schedules were listed.

National Resource Group of Oregon Inc., Minneapolis, Mn., has now filed Chapter 7 in the U.S. Bankruptcy Court in Minneapolis. No schedules were listed in the filing. The case number is 01-41818.

Olympian Graphics Inc., King of Prussia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. The case number is 01-15682.

Sport Shoe Inc., a privately-held Norcross, Ga. shoe retailer which recently filed Chapter 11, said that it will close at least three of its stores as part of an effort to reorganize and focuses on smaller-format locations. The firm hopes to emerge from bankruptcy protection and expand through franchising and building up company-owned stores.

Windcrest Amusement Group LLC, Tampa, Fl., has now filed Chapter 11. No schedules were listed.

May 8, 2001

MRU Construction Inc. II, Culver City, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles. The company listed assets of only $1,000 and liabilities of $3.3 million. The case number is LA01-17334-KM. For further information contact the debtor's attorney, Alan Somel, at 310-837-6455.

Lauren K. Design USA Inc., Los Angeles, Ca., has now seen an involuntary Chapter 11 bankruptcy petition filed against it in the U.S. Bankruptcy Court in Los Angeles. No schedules were listed in the filing. The case number is LA01-17577-KM. For further information contact the debtor's attorney, Alan Nahmias, at 818-906-1600.

Integrated Health Services Inc., in a recent request to extend a deadline on filing its annual report with the Securities and Exchange Commission, said that its losses totaled $490 million. The Sparks, Md. chain of nursing homes has now lost nearly $2.8 billion over the past four years. The firm is blaming the losses on restructuring and losses on its Medicare operations. Integrated continues to attempt a reorganization, recently having terminated thirty leasing agreements and eighteen management contracts.

Dairy Mart Convenience Stores Inc. said it will either sell or close some 200 underperforming retail outlets (about 36% of its stores). At the same time the Hudson, Oh. company reported a fourth quarter net loss of $22.5 million, more than double the loss in the year-earlier period. The company blamed higher expenses, lower profits, particularly on its gasoline sales. Revenue for the period increased 16%--to $174 million. The retailer recently agreed to be taken private by a firm controlled by Dairy Mart's chairman and chief executive officer.

Notes for Business Executives

A Warning to Creditors on Bankruptcy Reform

NOTE 1751: Much of the analysis of pending bankrupt-legislation reform has focused on the effects the reform may have on debtors. While the aim of the bills in the House and the Senate is to make it tougher to escape debts, some analysts have also pointed to the potential negative effects the bill could have on creditors. Among the provisions are those that would limit a judge's discretion in establishing or extending certain deadlines. An imposition of artificial deadlines could make it harder for some debtors, particularly when they're small businesses, to reorganize. Deadlines could also force debtors that are liquidating to try to sell off assets when market conditions are down rather than waiting for the economy to pick up again.

May 7, 2001

Accenture Inc., a privately-held Chicago, Il. business consulting company, is the reducing staff at its San Francisco, Ca. operations as part of a restructuring. It's believed that Accenture could pare as many as 150 positions in San Francisco.

Gold Country Limousines, Cameron Park, Ca., has now filed Chapter 13. No schedules were listed in the filing.

A 5/9 deadline has been set for filing objects to the sale of certain assets in the U.S. Office Products Co. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.

Genuity Inc., a Burlington, Ma. Internet-infrastructure seller, is reducing its payroll by 800 employees (12% of its workforce). The announcement comes in conjunction with the release of its first quarter results, which included a loss of $292 million. Genuity also lowered its sales projections for the coming year.

Razorfish Inc., a Manhattan, N.Y. Web design and consulting firm, is undergoing a change on top, with the company's founders leaving their senior management positions. The announcement comes along with the firm's first quarter results, which included a net loss of $24.8 million on a one-third drop in revenue--to $42.7 million. Most of the loss stemmed from costs related to amortization.

A 5/14 deadline has been scheduled to file objections to the sale motion in the RSL Com Primecall Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the Southern District of New York at 212-668-2867.

May 4, 2001

Alliekare Pharmacy Services LLC, Marmora, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-13402.

Cincinnati Entertainment Association Ltd., Cincinnati, Oh., has now filed Chapter 11 in the U.S. Bankruptcy Court in Cincinnati. The firm listed assets and liabilities of between $10 million and $50 million each. The case number is 01-11620. Listed at the same address and also filing Chapter 11 were C.E.A. Holdings LLC and Cyclones Hockey Club LP.

Duchess Healthcare, Fort Worth, Tx., has now filed Chapter 7 in the U.S. Bankruptcy Court in Dallas. The firm listed assets of less than $50,000 and liabilities in excess of $10 million. In addition, listed at the same address and also filing Chapter 7 were Orange-Sullivan Healthcare, Columbia Green Healthcare, Ulster Healthcare, Capital District Healthcare Alliance, Physician Buying Alliance and Promedco of Hudson Valley.

Finova Group Inc., a bankrupt Scottsdale, Az. commercial lender, is in the middle of a battle after recently agreeing to a bailout package. Berkadia LLC, a venture of Berkshire Hathaway Inc. of Omaha, Ne. and Leucadia National Corp. of Manhattan N.Y., recently offered to bail out Finova in a $6 billion transaction. Meanwhile, however, Finova's creditors are negotiating an alternative deal with General Electric Co. of Fairfield, Ct. According to terms of the GE proposal, creditors would receive a higher interest rate on bonds than in the Berkshire Hathaway deal.

KMI Foods Inc., Mine Hill, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-33607.

Melvin Beam Trucking Inc., Glen Gardner, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-53881.

A 5/22 hearing has been scheduled to consider the sale of certain assets in the Microcast Corp. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.

North American Technologies Inc., Asbury Park, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-54213.

Omniplex Communications Group LLC's management is revising its strategy and will now put the company on the selling block in lieu of an earlier plan to refinance $20 million of its debt. Omniplex, a St. Charles, Mo. telephone company, recently filed Chapter 11, estimating its assets and liabilities at $8.6 million and $20 million respectively. The firm filed in the U.S. Bankruptcy Court in St. Louis under case number 01-42079.

Quantum Express Ltd., Old Tappan, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-34055.

Specification Packaging Inc./Beemax Packaging Inc., West Chester, Oh., has now filed Chapter 7 in the U.S. Bankruptcy Court in Cincinnati. The case number is 01-11669.

Track 'n Trail Inc., an Eldorado Hills, Ca. footwear retailer, announced that as part of its restructuring it will close an undetermined number of its 151 stores. Track 'n Trail, whose revenue last year declined 13%--to $101 million--as a result of having closed some stores, is believed by some analysts to have a viable business. The company recently filed for Chapter 11 bankruptcy protection under two cases. The two filings, one for itself and the other for its Overland Management Corp. division, will later be consolidated.

A 9/1 deadline has been set for filing proof of claims in the Trans World Airlines Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.

A 5/22 hearing has been scheduled regarding the sale of certain assets in the Laroche Industries Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Neal Bason, at 404-81-7000.

Macon Roads Inc., St. Petersburg, Fl., has now filed Chapter 11 listing liabilities of $697,000. No assets were listed in the filing.

Stampede Worldwide Inc. of Tampa, Fl., which does business as Chronicle Communications Inc., has now filed Chapter 11. The firm listed assets and liabilities of $4.1 million and nearly $3 million respectively.

Old Capitol Valley Cheese Inc., Delta, Ut., has now filed Chapter 11 in the U.S. Bankruptcy Court in Utah. The firm listed assets and liabilities of $2.8 million and $3,3 million respectively.

Lakeland Crane Corp., Lakeland, Fl., has now filed Chapter 11. The firm listed assets and liabilities of nearly $1.6 million each.

One Call Comprehensive Care Inc. in St. Petersburg, Fl., which does business as Alternative Home Care, has now filed Chapter 11. No schedules were listed in the filing.

May 3, 2001

Viatel Inc., a builder of telecommunications networks, filed Chapter 11 and said that it laid off 350 employees. Including 700 layoffs announced in February, Viatel has laid off 45% of its payroll this year. Viatel, which missed a $17 million interest payment in April, wants to restructure by closing most of its unprofitable operations in the U.S. in order to focus on its European business.

Wendy's International Gifts Inc., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing.

Telekomnet Inc., Boston, Ma., has now filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 01-12841.

LeadingSide Inc. in Cambridge, Ma., which does business as Dataware Inc., has now filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 01-12876.

Liberty Air Express Corp., Chelsea, Ma., filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 01-13084.

Shuttle America, a Windsor Locks, Ct. airline which recently filed Chapter 11, is reportedly talking with investors in hopes of raising about $20 million so that it can continue operating. Some analysts believe that the privately-held company will be able to overcome its problems, which stem in part from being undercapitalized to start out.

International Pharmacy & Discount II Inc., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing.

International Wire Comm Inc., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing.

Miami International Export & Import Inc., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing.

Odom Transportation Corp., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing.

May 2, 2001

Cytometrics Inc., a enter City, Pa. maker of medical devices, has now fied Chapter 7 in the U.S. Bankruptcy Court in Delaware. The firm listed assets and liabilities of about $4.8 million and $6.5 million respectively. The assets of the company, which recently slashed its payroll by more than 70%, will reportedly be sold at auction.

Parram One Inc./Master Lube Express, San Antonio, Tx., has now filed Chapter 11. The firm listed assets and liabilities of $1.5 million and $1.2 million respectively.

Eastpointe Petro Mart Inc., Eastpointe, Mi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Detroit. The firm listed assets and liabilities of $931,000 and $1.1 million respectively.

Darr-Doman Inc., Ypsilanti, Mi., has now filed Chapter 11 in the U.S. Bankruptcy Court in Detroit. The firm listed assets and liabilities of $209,000 and $941,000 respectively.

Xyan.com Inc., a King of Prussia, Pa. digital-printing company, has now filed Chapter 11. The company listed assets of between $10 million and $50 million and liabilities of between $50 million and $100 million.

Alliance Media Group Inc., San Antonio, Tx., has now filed Chapter 11. No schedules were listed in the filing.

Tesco American Inc., a Salt Lake City, Ut. maker of truck and trailer equipment, has now filed Chapter 11 in the U.S. Bankruptcy Court in Utah. Tesco, more than a century old, listed assets and liabilities of between $1 million and $10 million each. The company, which had reportedly been profitable, ran into trouble amid problems related to warranties and related litigation.

May 1, 2001

American Appliance, which recently closed its chain of appliance and consumer-electronic stores in Pennsylvania, New Jersey and Delaware, has now filed Chapter 11 in the U.S. Bankruptcy Court in Camden, N.J.

Pam Mar Offset Services Inc., Cincinnati, Oh., has now filed Chapter 7. The firm listed assets and liabilities of $257,000 and $585,000 respectively.

Prograde Technologies Inc., Cincinnati, Oh., has now filed Chapter 11. The company listed assets of only $3,000 and liabilities of $1.3 million.

Gunn Leasing LLC, Mountain View, Ca., has now filed Chapter 7. The firm listed assets of less than $50,000 and liabilities of between $1 million and $10 million. Listed at the same address and also filing Chapter 7 was Gunn Construction Corp., which listed liabilities of between $1 million and $10 million. No assets were listed.

West Affinity Inc., Saratoga, Ca., has now filed Chapter 7. The firm listed liabilities of between $500,000 and $1 million. No assets were listed in the filing.

A 5/30 auction has been scheduled regarding the assets in the Forest City Auto Parts Co. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-252-2900.