June 1, 2000

Boneville Motel LC, Wendover, Ut., has now filed Chapter 11 in the U.S. Bankruptcy Court in Utah listing assets and liabilities of between $1 million and $10 million each. 

California Medical Weight Control, Rancho Palos Verdes, Ca., has now filed Chapter 7 in the U.S. Bankruptcy Court in Los Angeles listing assets and liabilities of $1.1 million and $3.1 million respectively. . The case number is LA00-21936-AA. The company also does business as Anti Aging Rejuvenation and California Medical Wellness Center. For further information contact the debtor's attorney, Richard Moneymaker, at 213-622-1088.

Comtek Inc., Marlborough, Ma., filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 00-142459. No schedules were listed in the filing. 

Highlands Hill Investment Partners Ltd., Denver, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Colorado listing assets and liabilities of between $1 million and $10 million each. The case number is 00-1583msk.

JCK Industries Inc., a Glendale, Ca. manufacturer and wholesaler of cellular-phone accessories, has now seen an involuntary Chapter 7 petition filed against it. No schedules were listed in the filing.  For further information contact the petitions' attorney, Kenneth DeJarnette, at 415-362-5045.

LA Trim Inc., a Los Angeles, Ca. apparel wholesaler, has now filed Chapter 7. No schedules were listed in the filing.  For further information contact the debtor's attorney, Michael Saint-George, at 213-739-1564.

Newton Sales Corp., Canton, Ma., has now filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 00-13237. No schedules were listed in the filing. 

SD Fabrics, Atlanta, Ga., filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. The case number is 00-80640. No schedules were listed in the filing. 

Seth Engineering Inc., Oak Bluffs, Ma., has now filed Chapter 7 in the U.S. Bankruptcy Court in Boston. The case number is 00-13065. No schedules were listed in the filing. 

Sunterra Corp. of Orlando, Fl., a financially troubled operator of time-share resorts, has now filed Chapter 11. In conjunction with the filing, the U.S. Bankruptcy Court in Baltimore, Md. approved an interim financing arrangement for $25 million, expandable to $53 million, from Ableco Finance LLC.  Sunterra recently laid off more than 900 employees after its bank group turned down its request for additional loans.

Universal Telecom Inc., Budsberg, Wa., has now filed Chapter 7 in the U.S. Bankruptcy Court in the Western District of Washington. The case number is 00-33562. No schedules were listed in the filing. 

 

June 2, 2000

Advanced Metal Fabrication Inc., a Rancho Dominguez, Ca. sheet-metal maker, has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. The case number is LA00-22276-TD. No schedules were listed in the filing.  For further information contact the debtor's attorney, Robert Scott, at 562-628-9488.

AltaVista Co., an Andover, Ma.-based Internet-search company that is controlled by CMGI Inc. of Boston, is reducing its payroll by more than fifty employees, bringing to more than 100 the number of jobs that it has cut since last fall. AltaVista, which has been losing money for years, expects to be reporting positive cash flow by the end of this year.

A 6/14 deadline has been to file bids for the assets in the ContiFinancial Corp. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Richard Miller, at 212-259-8000. 

Delarok Enterprises Inc., Winter Park, Fl., has now filed Chapter 11 . No schedules were listed in the filing. 

Fruit of the Loom Ltd. in Chicago, Il. said that it expects to file a reorganization plan with the U.S. Bankruptcy Court in Delaware by the middle of the summer. Creditors are not expected to get any large cash payout, although it's anticipated that the plan will propose issuing creditors new debt as bonds, warrants and preferred stock in the reorganized company. Now working with a debtor-in-possession financing facility of $625 million, Fruit of the Loom could raise as much as $75 million this year through asset selloffs. For a free copy of an article about Fruit of the Loom's restructuring plans call 800-407-90414.

A 6/28 hearing has been scheduled to consider disclosure statement in the Gulf States Steel Inc. of Alabama Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the Northern District of Alabama at 205-714-4000. 

Iridium LLC, the bankrupt Washington, D.C.-based satellite-communications firm, is negotiating to sell satellites along with certain other assets to Castle Harlan Inc. for $50 million.  A hearing on the matter will be held in the U.S. Bankruptcy Court in New York next week.

Monet Group, an East Providence, R.I. jewelry maker which recently filed Chapter 11 and laid off thirty-one employees, is reportedly in negotiations with an unidentified suitor.

A 7/20 meeting of creditors has been scheduled in the New Times Security Services Inc. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the Eastern District of New York at 718-330-2188.

Powers Elevation Co. Inc., Aurora, Co., has now filed Chapter 11 in the U.S. Bankruptcy Court in Colorado listing assets and liabilities of between $1 million and $10 million each. The case number is 00-15427cem.

Rehoboth Church of God in Christ, Capitol Heights, Md., has now filed Chapter 11 listing assets and liabilities of $1.5 million and $763,000 respectively.

Stage Stores Inc., a Houston, Tx.-based apparel retailer which has been facing financial and accounting problems, filed Chapter 11. As part of its reorganization, the firm, which announced that it will close some of its nearly 650 Stage, Bealls and Palais Royal stores, also said it was near a an agreement with Citicorp USA Inc. on a $450 million debtor-in-possession financing facility. The firm is also looking to replace its chairman, president and CEO, who left the firm amid an investigation into possible transactional irregularities. Stage Stores lost $129 million last year on sales of $1.1 billion. 

A 6/15 deadline has been set for filing proof of claims in the Tamboril Cigar Co. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Miami, Fl. at 305-536-5216.

Tran-Am Development Corp. in Los Angeles, Ca., which does business as Home Nursing Care, has now filed Chapter 11 in the U.S. Bankruptcy Court in Los Angeles. The case number is LA00-23337-VZ.. No schedules were listed in the filing.  For further information contact the debtor's attorney, Lawrence Yang, at 213-626-1144.

June 5, 2000

 

BABA Inc., which does business as L'Etoile Restaurant in San Antonio, Tx., has now filed Chapter 11 in the U.S. Bankruptcy Court in San Antonio. No schedules were listed in the filing.  The case number is 00-51629. In a separate filing, another company called L'Etoile Restaurant filed Chapter 7 in San Antonio, listing assets of only $28,000 and liabilities of more than $2.3 million. The case number is 00-51640. 

Catsburg Mining Co. Inc., Charleroi, Pa., filed Chapter 7. No schedules were listed in the filing. 

Chestertown Inn Inc., Chestertown, Md., has now filed Chapter 11 in the U.S. Bankruptcy Court in Baltimore. The firm listed assets and liabilities of between $500,000 and $1 million each.

Empire Funding Corp., an Austin, Tx. mortgage-lending concern, recently filed Chapter 11, reportedly owing its creditors more than $75 million.

Florsheim Group Inc., the Chicago, Il. shoe firm which has seen its earnings erode over the past five years, is coming under pressure from its lenders, which recently forced Florsheim to renegotiate the terms of its $110 million credit facility. The move follows poor first quarter results, which were brought on by problems with a new inventory system. The renegotiated credit arrangement, with BT Commercial Corp., resulted in an additional $500,000 in fees for Florsheim, which also had to agree to higher interest rates. And while the company may be able to turn its product line around by developing more casual footwear, Florsheim is laden with a debtload that resulted in $10 million in interest fees last year alone. For a free copy of an article about Florsheim Shoes call 800-407-90414.

Hampton Housing Development Co. LLC, Forest Park, Ga., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia. The case number is 00-66287. No schedules were listed in the filing. 

Hampton Industries Inc., a Kinston, N.C. apparel maker, will close its manufacturing site in Washington, N.C., reduce its payroll by 145 employees and take a $300,000 charge in its second quarter. Other consolidations will cost the jobs of another forty workers as the company cuts costs.

IVillage Inc., the Manhattan, N.Y. women's-oriented website company, is shifting gears on retailing, now deciding to sell its iBaby Inc. e-commerce retailing unit to a competitor, Babygear.com, for an undisclosed amount. IVillage, which has been undergoing management turmoil not to mention a sinking stock price, bought iBaby two years ago in an attempt to bolster its Web services with income from retailing.

National Freight Systems Inc., Miami Springs, Fl., has now filed Chapter 7. No schedules were listed in the filing.

A committee of Pathmark Stores Inc. that represents about 46% of the supermarket chain's bond debt has agreed to the Carteret, N.J. chain's prepackaged reorganization plan. The plan would convert $960 million in bond debt into 100% of the common stock of the reorganized company. A deadline for voting on the plan is now set for 6/27.

A 7/7 deadline has been set for filing proof of claims in the Safety Components International Inc. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Luc Despins, at 212-530-5000.  

Winn-Dixie Stores Inc. was turned down by the Federal Trade Commission in its bid to sell seventy-five stores in Texas and Oklahoma for Kroger Co. of Cincinnati, Oh. Winn-Dixie had hoped to sell seventy-five locations as part of its efforts to streamline its operations and better compete with rivals. Jacksonville, Fl.-based Winn-Dixie in April said that it would close more than 100 stores, reduce its payroll by 8% and take restructuring charges of $500 million.

June 6, 2000

 

Albur Produce Trucking, New Port Richey, Fl., filed Chapter 7. No schedules were listed in the filing. 

Breed Technologies Inc., a Lakeland, Fl. manufacturer of auto-safety devices, has received an offer to be purchased by automotive supplier Harvard Industries Inc. of Lebanon, N.J. for an undisclosed amount. Breed, which is operating under Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in Delaware, said that it is also considering completing its reorganization by itself.

Equipment Technologies LLC, Mooresville, In., has now filed Chapter 11. No schedules were listed in the filing. 

Henry Ortileb's Original Philadelphia Works, Philadelphia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. The case number is 00-15842. The company listed assets and liabilities of between $1 million and $10 million respectively.

Holiday RV Center Inc., New Port Richey, Fl., filed Chapter 11. No schedules were listed in the filing. 

Humphrey's Prime Meats Inc., Philadelphia, Pa., has now filed Chapter 7 in the U.S. Bankruptcy Court in Philadelphia. The case number is 00-16354. No schedules were listed in the filing. 

InsWeb Corp., a Redwood City, Ca. firm that allows consumers to compare insurance rates online, will reduce its payroll by 120 employees (40% of its workforce) and discontinue its Benelytics Inc. subsidiary.

LB Russell Chemical Inc., Piscataway, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed in the filing. 

Sky Trek International Airlines Inc., Ewing, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed in the filing. 

 

June 7, 2000

Anastasio Wholesalers Inc., Milburn, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed in the filing. 

A 6/23 hearing has been scheduled to consider the debtor's motion on an asset-purchase agreement in the Cambridge Industries Holdings Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, I. William Cohen, at 313-259-7110.

Jenny Craig Inc., the La Jolla, Ca. weight-control company, has seen its majority owner, Craig Enterprises Inc., offer to acquire the one-third that it doesn't already own of Jenny Craig for $25.6 million. Jenny Craig has had difficulties over the past year, including a string of losses and the closing of more than 100 of its locations.

MegaWall Corp., Danville, Ca., has now filed Chapter 11. No schedules were listed in the filing. 

Safety-Kleen Corp., the financially-troubled Columbia, S.C.-based waste-services firm, announced that it missed $58 million of debt payments. This is the second time within a month that the company has missed scheduled debt payments. In addition, Safety-Kleen, which last month saw Standard & Poor's lower its corporate credit rating to default, called off the planned sale of its former headquarters complex in Elgin, Il. Laidlaw Inc., the Burlington, Ontario-based transport firm which owns 44% of Safety-Kleen, also saw its rating lowered to default status.

Track 'N Trail Inc., which was delisted from the Nasdaq SmallCap listing in March as a result of its sagging stock price, reported a couple of bits of good news, despite its recent first quarter net loss of $393,000 on revenue of $23.4 million. The El Dorado Hills, Ca. footwear retailer said that it generated better-than-expected revenue from the closing of forty-two of its stores over the winter. In addition, gross sales as a percentage of net sales increased during the third quarter as a result of fewer markdowns. The company, which still operates 112 Track 'N Trail stores and forty-four Overland Trading locations, has even announced plans to open at least three more stores this year.

June 8, 2000

 

American Overhead Door Co., Colorado Springs, Co., has now filed Chapter 7 listing assets of only $75,000 and liabilities of nearly $1.4 million. No schedules were listed in the filing.  

Charter Behavioral Health Systems LLC has seen Crescent Real Estate Equities Co. of Fort Worth, Tx. agree to sell twenty-three of the thirty-seven facilities that it now leases to Charter for $110 million. It should be noted that while the deal has the support of Charter's secured creditors, unsecured creditors have yet to approve to agreement. For further information contact the debtor's attorney at 404-885-3000.

Clark Material Handling Co. of Lexington, Ky. is now seeking permission from the U.S. Bankruptcy Court to implement an $8.2 million program aimed at retaining key employees.

Cyrk Inc., a Gloucester, Ma. promotional products firm which recently announced that it would lay off 175 employees in order to save as much as $15 million a year, is moving into a smaller facility in Wakefield, Ma. in another cost-cutting move.

Factory Card Outlet Corp., a Naperville, Il.-based party-goods retailer, signed a letter of intent for a $19.5 million investment from Karp & Megrue, an investment company in Stamford, Ct., paving the way for the firm's emergence from more than a year in Chapter 11 protection. According to Factory Card's reorganization plan, unsecured creditors, which are owed an estimated $43 million, would receive a $5 million cash distribution, a $7 million note and 10% of the shares of the reorganized company.

Insurance Management, Alexandria, Va., has now filed Chapter 11 listing assets and liabilities of between $500,000 and $1 million each.

Rama Group of Cos. in Cheektowaga, N.Y., which owns the Metro Community News, has now filed Chapter 11. The privately-held company is reportedly being financed by M&T Bank in order to continue publication for its 289,000 subscribers as it restructures under bankruptcy protection.

Reading Restaurants Inc., a Kings Mills, Oh. franchisor of Perkins Restaurants of Memphis, Tn., has received approval from the U.S. Bankruptcy Court to sell its assets to JDK Management Co. Inc. of Bloomsburg, Pa. for an undisclosed amount.

Samsonite Corp., the Denver, Co. maker of luggage, reported a first quarter net loss of $2.3 million. Its sales for the period increased 9%--to $192 million.

Super 20 Motel Inc., North Versailles, Pa., has now filed Chapter 7. No schedules were listed in the filing.  

The owner of Cephas Inc., a Web development company in Johnson County, Ks. which recently closed its operations and filed Chapter 11, revealed that its has assets of about $213,000 and liabilities of $1.3 million, nearly all of which is owed to unsecured creditors. 

Tultex Corp., the bankrupt Martinsville, Va. apparel manufacturer, has reached an agreement to sell its T-Shirt City Inc. and California Shirt Sales Inc. sportswear units to a Cincinnati, Oh.-based investment group for an undisclosed amount. The group, led by Cincinnati businessmen Joseph Rippe and Philip Vollmer, will set up a new company for the two units in Sharonville, Oh.

Vlassic Foods International Inc., a Cherry Hill, N.J. preparer of condiments and frozen foods, reported a third quarter net loss of $2.3 million on a 24% decline in sales--to $222 million. The loss, which included a $4.6 million charge related to the sale of its mushroom business, is a significant improvement over a loss in the year-earlier quarter of $140 million, which included an extra $144 million charge. Vlassic, which is reviewing its strategic options, continues negotiations to extend its bank credit facility, which is now set to expire 6/20.

June 9, 2000

 

American-Pacific Corp., Portland, Or., has now filed Chapter 11 in the U.S. Bankruptcy Court in Portland. The case number is 00-33960. No schedules were listed in the filing. 

Analytical Laboratory Systems Inc., Portland, Or., has now filed Chapter 7 in the U.S. Bankruptcy Court in Portland. The case number is 00-33846. No schedules were listed in the filing. 

Cannon Valley Woodwork Inc., an El Dorado, Ks. maker of cabinets, closed its doors and left 215 employees out of work. While Cannon earlier reported that it would temporarily close in order to restructure, the company's chief executive officer more recently announced in a letter to employees that his firm no longer has any funds to continue operating.

Corel Corp., the financially troubled Ottawa, Ontario software company, has cut its payroll by 320 employees (21% of its workforce) in order to reduce costs. Corel, hurt by the recent collapse of its plan to be acquired by Inprise/Borland Corp., recently agreed on a $20 million equity-financing package with Canaccord Capital Corp.

Hospital Staffing Service of Florida Inc., Hollywood, Fl., has now filed Chapter 7. Two other companies at the same address, Hospital Staffing Service Medicare of Palm Beach Inc. and Hospital Staffing Service Medicare of Broward Inc., also filed Chapter 7. No schedules were listed in any of the filings.

KD Homes of America Inc., Palm Beach County, Fl., has now filed Chapter 7. No schedules were listed in the filing.  

Marsean Traders Inc., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing.  

Midsouth Engineering & Fabricating Inc., Cordova, Tn., has now filed Chapter 11 in the U.S. Bankruptcy Court for the Western District of Tennessee. The case number is 00-26079. No schedules were listed in the filing.  The company was formerly known as Precision Engineering and Fabricating Inc.

Sports Cars International of Seattle LLC, Seattle, Wa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Seattle. The case number is 00-04691. No schedules were listed in the filing. 

U.S. Gateway International Inc., Fort Lauderdale, Fl., has now filed Chapter 7. No schedules were listed in the filing.  

June 12, 2000

Bon-Ton Stores Inc., in a cost-cutting move, will reduce its payroll by 187 positions and take a second quarter charge  of about 2 cents per share. Bon-Ton, headquartered in York, Pa., operates more than seventy department stores in the East.

A 7/31 deadline has been set for filing proof of claims in the Clark Material Handling Co. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Teresa Currier, at 302-552-4200.

A 6/30 deadline has been set for filing proof of claims in the Einstein/Noah Bagel Corp. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, J. Eric Ivester, at 312-578-2514.

A 7/31 deadline has been set for filing proof of claims in the Golden Ocean Group Ltd. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Laurie Selber Silverstein, 302-984-6000. 

A 6/23 hearing has been scheduled to consider the disclosure statement in the Gulf States Steel Inc. of Alabama Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the Northern District of Alabama at 205-714-4000.

Kaiser Group International Inc., Fairfax, Va., filed Chapter 11 in the U.S. Bankruptcy Court in Delaware. Intending to complete its reorganization by the end of the summer, Kaiser has agreed to sell its infrastructure-and-facilities units to the Earth Tech Holdings Inc. division of Tyco International of Exeter, N.H. and its metals, mining and industry businesses to Hatch Group, a Canadian-based engineering-services firm. The two sales are valued at a total of $40 million. Kaiser also retained Jeffries & Co. and Raymond James & Associates to assist it in its reorganization efforts.

Safelite Glass Corp., a Columbus, Oh.-based company that provides automotive-glass replacement services, filed Chapter 11 in the U.S. Bankruptcy Court in Wilmington, De. listing assets and liabilities of $559 million and $591 million respectively. In conjunction with the filing, Safelite retained Blackstone Group LP and Deloitte & Touche LLC to assist it in its efforts to reorganize.

Safety-Kleen Corp. of Columbia, S.C., with the support of senior secured lenders that hold more than $1.6 billion in claims, has filed Chapter 11 along with more than seventy of its units in the U.S. The firm is reportedly close to a deal on debtor-in-possession financing and expects to continue day-to-day operations as normal as it restructures. Safety-Kleen, which recently missed debt payments of nearly $60 million, has been under the shadow of alleged accounting irregularities, which are still under investigation.

Tandycrafts Inc., a Fort Worth, Tx. arts-and-crafts retailer which has faced a string of losses, has seen a group of its investors led by Steel Partners II LP request that it retain an adviser to help find a buyer for the firm.

Value City Department Stores Inc., a Columbus, Oh. department-store operator, reported its first quarter net declined 94%--to $100,000. Its sales for the period increased 35%--to $462 million.

June 13, 2000

 

Anastasio Wholesalers Inc., Milburn, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 00-34622.

Diversified Landing Services Inc., Rockville, Md., has now filed Chapter 11 listing liabilities of more than $1 million. No assets were listed in the filing. 

Dixon Ticonderoga Co., a Lake Mary, Fl. maker of writing instruments, announced that it violated certain conditions on more than $60 million of its senior debt after reporting a second quarter loss of 8 cents per share. The firm is also negotiating new terms on the debt facility.

Donisi Transportation Inc., Dunkirk, N.Y., has now filed Chapter 7 listing assets of only $50,000 and liabilities of $543,000.

Enterprises 1701 Inc., which does business as City Blues Cafe in Washington, D.C., has now filed Chapter 7 listing liabilities of $3.1 million. No assets were listed in the filing.

After failing to reach mutually acceptable terms of a merger, GST Telecommunications Inc., which is operating under Chapter 11 bankruptcy protection, has seen Time Warner Inc.'s Time Warner Telecom Inc. unit call off its planned acquisition of GST for $450 million. Instead, Vancouver, Wa.-based GST, which provides voice, data and Internet services, will seek permission from the U.S. Bankruptcy Court in Delaware to auction off most of is assets. 

Hollywood Entertainment Corp., Portland, Or., is closing its Reel.com e-commerce unit two years after buying the business for $100 million. Reel.com, which had been burning up more than $4 million a month, lost more than $80 million last year on revenue of $42 million and was dragging down the results of Hollywood Entertainment's bricks-and-mortar video-rental operations. As a result of shutting down Reel.com, Hollywood Entertainment will lay off 125 employees and take extra charges of $25 million.

Media Technologies Inc., Washington, D.C., has now filed Chapter 7 listing assets of less than $50,000 and liabilities of between $500,000 and $1 million. 

Samsonite Corp., the Denver, Co. luggage maker, is making some headway, cutting its losses to $2.3 million in its recent quarter, a significant improvement over a loss of $3.9 million in the year-earlier period. Samsonite also increased its revenue more than 9%--to $192 million--while improving its cash flow by 11%. However, the firm's stock is still languishing, as a result of its debt structure and relatively small market capitalization. Nonetheless, having turned around its wholesale business in the U.S., Samsonite hopes to boost capacity at its manufacturing plant in Slovakia, which will allow it to increase European sales. In addition, the firm wants to grow its sales of travel apparel and shoes from $20 million to $100 million within five years.

Witech Corp., a venture capital unit of Wisconsin Energy Corp. of Milwaukee, Wi., now wants to put on the selling block its 95%-owned Thor Technology Corp. unit in nearby Menomonee Falls. Witech has had disappointing results after investing $15 million in Thor Technology, a manufacturer of electric motor drives and printed circuitboards. Witech will try to sell Thor by placing the unit into receivership.

June 14, 2000

Bituma-Stor Inc., Marquette, Ia., has now filed Chapter 11 in Florida. No schedules were listed in the filing. 

Breed Technologies Inc., a bankrupt Lakeland, Fl. maker of car airbags, has entered into an agreement to be purchased by Harvard Industries Inc., an automotive manufacturer in Lebanon, N.J. The acquisition must be approved by the U.S. Bankruptcy Court.  According to the terms of the deal, Harvard would assume $300 million of Breed's debtload and pay $220 million to creditors in cash and notes. Breed's creditors would also receive about 45% of the equity in the merged company.

Capital Gaming International Inc., Phoenix, Az., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 00-14052. No schedules were listed in the filing. 

CMR Services Group Inc., Kissimmee, Fl., has now filed Chapter 7. No schedules were listed in the filing.  

CPM Brazil Inc., Orlando, Fl., has now filed Chapter 11. Thermotech Systems Corp., Gencor Industries Inc. and General Combustion Corp., all listed at the same address as CPM Brazil, also filed Chapter 11. No schedules were listed in any of the filings.  

EIT International Inc., Merritt Island, Fl., has now filed Chapter 7. No schedules were listed in the filing.  

El Camino Hospital of Mountain View, Ca. has retained Wit/Kieffer of Oak Brook, Il. to help find a new chief executive officer to direct its turnaround. El Camino is trying to turn improve its fortunes, recently reporting that it expects a loss of more than $11 million for its year ending 6/30.

According to one attorney representing creditors in the Equipment Leasing Corp. of America Chapter 11 bankruptcy, creditors of the Bala Cynwyd, Pa. firm will receive less than 18 cents on the dollar according to a reorganization plan recently approved. Equipment Leasing's parent company, Walnut Equipment Leasing, faced nearly $60 million in unsecured debt when the companies filed nearly three years ago.

Pioneer Hotel Inc., a unit of Sante Fe Gaming Corp. of Las Vegas, Nv., will get a loan of about $36 million from Station Casinos Inc., also of Las Vegas.

Prairie River Home Care Inc., Buffalo, Mn., has now filed Chapter 11 in the U.S. Bankruptcy Court in Minneapolis. The case number is 00-42283. The company listed assets and liabilities of $650,000 and $709,000 respectively.

A 6/30 hearing has been scheduled to consider the distribution of more than $500,000 in the Prism Software Production LLC Chapter 7 bankruptcy. For further information contact the debtor's attorney, Wood & Jones PS, at 206-623-4382.

Sunterra Corp. of Orlando, Fl., the operator of time-share resorts which recently filed Chapter 11, has now listed assets and liabilities of more than $100 million each in its filing with the U.S. Bankruptcy Court in Baltimore. The company's subsidiaries filed in

thirty-six separate petitions.

 

June 15, 2000

Bon-Art Industries Inc., Fair Lawn, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 00-35012. No schedules were listed in the filing. 

BTC Industries Inc., Farmingdale, N.J., has now filed Chapter 11 in the U.S. Bankruptcy Court in New Jersey. The case number is 00-35012. No schedules were listed in the filing. 

A 6/20 hearing has been scheduled to consider the sale of certain subleased space in the Caldor Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Edmund Emrich, at 212-833-8000.

Citizens General Hospital, a financially troubled hospital in New Kensington, Pa., is negotiating to be acquired by Allegheny Valley Hospital in Natrona Heights, Pa. for an undisclosed amount. Citizens General has suffered from cutbacks in federal programs and has seen its average total margin for the past three years of -4.2%. This compares with an industry average of +3.2%.

Following the collapse of a deal to be purchased by Eidos Interactive, Looking Glass Studios, a Cambridge, Ma. maker of computer games, said that it ran out of money, will lay off its sixty employees and go out of business.

Hit Videos Inc., LaPlace, La., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Eastern District of Louisiana listing liabilities of $842,000. No assets were listed in the filing. 

A 6/27 auction has been scheduled to sell the assets in the Monet Group Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Joanne Wills, at 302-426-0089.

Movie Star Inc., a New York women's-sleepwear maker whose stock price has sunk 60% over the past year, retained First Union Securities Inc. to help it explore strategic alternatives.

Plaza Oil Development Co. LLC, Sacramento, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in Sacramento. The case number is 00-25879-A-11. No schedules were listed in the filing. 

Riskwatch Inc., Annapolis, Md., has now seen an involuntary Chapter 11 petition filed against it in the U.S. Bankruptcy Court in Baltimore. No schedules were listed in the filing.  The company also does business as Riskwatch Acquisition Corp. and Riskwatch Security Inc.

Seventeen members of Iridium LLC, the bankrupt Washington, D.C.-based satellite-communications firm which is on the verge of collapse, have been sued for $243 million by Chase Manhattan Bank of New York for allegedly failing to  maintain reserve capital obligations in the satellite venture. Among the members being sued is Motorola Corp. of Schaumburg, Il.

Special Operations Inc., Richmond, Ca., has now filed Chapter 11 in the U.S. Bankruptcy Court in San Francisco. The case number is 00-43131. No schedules were listed in the filing. 

Sykes Enterprises Inc., a Tampa, Fl. consulting and customer-support company which recently reported that its earnings for the second quarter would fall short of analysts' expectations, has now announced that it will sell its SHPS employee-benefits operations to Welsh, Carson, Anderson & Stowe of New York, a closely-held investment company, for $165 million in cash.

Todd Shipyards Corp., a Seattle, Wa. shipbuilding, repair and engineering firm, reported its fourth quarter net declined 99%--to $1.2 million. Its revenue for the period declined 21%--to $36.1 million. The results included nonrecurring charges of $5 million.

June 16, 2000

American Intellectuals Inc., a Los Angeles, Ca. motion-picture production company, has now seen an involuntary Chapter 7 petition filed against it. For further information contact the attorney for the petitioner, Douglas Neistat, at 310-449-6000.

Anacomp Inc., a Poway, Ca. document-management services firm, will close down its Datagraphix manufacturing operations and lay off 100 employees. Datagraphix, which makes data-conversion machines, has lost millions of dollars in recent years. Anacomp lost more than $27 million in its first six months, ended 3/31, on a 9% decline in revenue--to $207 million.

Benbow Helicopters Inc., a Torrance, Ca. aviation company, has now filed Chapter 7 listing assets and liabilities of $963,000 and $465,000 respectively.  The company also does business as Bravo Helicopter & Wings. For further information contact the debtor's attorney, Scott Clarkson, at 310-542-111.

EMusic.com Inc., a Redwood City, Ca. company that sells downloadable music, is reducing its payroll by forty employees (20% of its workforce) in an attempt to achieve profitability. While its losses have narrowed, it also announced that it expects to report a loss for its upcoming third quarter.

Heartbeat Home Health Inc., an Encino, Ca. provider of home-healthcare and nursing services, has now filed Chapter 7 listing liabilities of nearly $2.7 million. No assets were listed in the filing. For further information contact the debtor's attorney, Andrew Bakker, at 213-996-8518.

A 7/14 deadline has been set for filing proof of claims in the Chapter 11 bankruptcy filing of OpTel Inc. and its twenty-three related companies.  For further information contact the debtor's attorney, James Beldner, at 212-479-6000. 

Play by Play Toys & Novelties Inc. of San Antonio, Tx. reported a third quarter net loss of $4.4 million on an 11% revenue decline --to $31.6 million.  This compares with a loss of $3.6 million for the same period one year earlier.

Tools Plus Inc., a Chatsworth, Ca. industrial telemarketing company, has now filed Chapter 11 listing assets and liabilities of $463,000 and $1.7 million respectively. The company also does business as American Video Exchange and Igotools.com. For further information contact the debtor's attorney, Stephen Biegenzahn, at 818-594-8822.

A 7/6 hearing has been scheduled to consider approval of the disclosure statement in the United Cos. Financial Corp. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court for the District of Delaware at 302-573-6174.

 

June 19, 2000

 

While the insurance industry overall has been hit hard as a result of the severe weather throughout the nations, Allstate Corp. has been hit particularly hard with the insured's claims totaling more than 33% of the entire industry's more than $1 billion in catastrophe losses for the last two months.  Allstate, which only has 12% of the nation's personal-property insurance market, has seen its stock price decline after the severe weather resulted in more than $340 million in catastrophe losses alone.  Year to date, the company's catastrophe-related losses have reached more than $720 milion.

Ball Corp., the Broomfield, Co. metal and plastic packaging firm, is now closing two of its Canadian plans--resulting in layoffs of 180 employees. It should be noted that the company anticipates taking a $56 million charge in its fiscal second quarter.

Bay Transit Co. Inc. in Santa Clara, Ca. has now filed Chapter 11 listing assets of $691,000.  The case number is 52352.

Coach Inc., the New York leather goods firm that will be spun off by Sara Lee Corp. of Chicago and which hopes to raise $140 million thru an initial public offering, will use much of the proceeds to repay the more than $190 million Coach will Sara as a result of the spin off.

Computer Associates International Inc., the Islandia, N.Y. business software firm, is now considering spinning off certain of its businesses--citing its depressed stock price as one reason for the move.

Corel Corp., the Canadian software firm which recently laid off more than 300 employees (more than 20% of its workforce) and whose sales of certain products have been steadily declining, now expects to report a larger than anticipated operating loss of as much as $24 million for its second period. Its revenue are expected to decline by more than 45%--to around $38 million.

Free Spirit Missionary Baptist Church Inc. in Milwaukee, Wi. has now filed Chapter 11.  No schedules were listed in the filing. The case number is 24970.

International Fragrances Inc., the New York perfume and food-flavorings firm, now anticipates its second quarter results to fall below expectations.  The company cited "new product launch" delays by several of its customers as one reason for the results.

Lifepoint Inc., a Rancho Cucamonga, Ca. drug abuse technology products firm, reported a fiscal net loss of nearly $4 million.  This compares with a loss of $2.6 million for the same period one year earlier.

M2Direct Inc., the Norcross, Ga. firm which approximately one year earlier had attempted to raise $45 million through an initial public offering and which recently filed for protection under Chapter 11, now wants to reorganize its finances through the sale of certain of its assets.  The interactive marketing firm, which could owe its 700 unsecured creditors more than $15 million, is hoping to get more than $9.5 million from the sale of its six companies to a shell company known as Vi@Express.com Inc.  For further details on this bankruptcy call 1-800-407-9044.

Meritor Automotive Inc., the Troy, Mi. autoparts firm, now anticipates cutting its work force by 500 employees while also cutting back certain of its European facilities.  The company anticipates taking a $16 million charge in its third quarter as a result.

Miami Computer Supply Corp. of Dayton, Oh. is now selling its Azerty Canadian unit to United Stationers Inc. of Des Plaines, Il. for an undisclosed amount.

MicroStrategy Inc., the Vienna, Va. software firm whose accounting practices were being investigated by the SEC, has now managed to procure a $125 million cash infusion from certain private investors.

Occidental Petroleum Corp. of Los Angeles, Ca. reported it would take an $80 million charge in its second quarter as a result of its efforts to sell certain chemical business with sales reaching more than $400 million.

Perot Systems Corp., the Dallas, Tx. computer-services firm which reported that it has seen the loss of business from two of its major accounts, announced that its fiscal results could fall short of analysts estimates.

Rama Group of Co. Inc. dba Metro Community News in Cheektowaga, N.Y. has now filed Chapter 11.  No schedules were listed in the filing.  the case number is 12654.

Research Partners in N.Y. reported a first quarter net loss of $1.3 million on a revenue increase of more than 60%--to $21.3 million.  This compares with income of $617,000 for the same period one year earlier.

S.A.I. Engineers Inc. in Santa Clara, Ca. has now filed Chapter 7 listing assets and liabilities of $14,000 and $542,000 respectively.  The case number is 523275.

Skyline Corp., an Elkhart, In. recreational vehicles and manufactured housing firm, reported its fiscal net declined more than 40%--to $15 million--on an 11% sales decline--to $589 million.

A 6/29 hearing has been scheduled in the  Smith Corona Corp. Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Delaware with respect the company's motion to sell nearly all of its assets.

Suncoast Medical Inc. has now seen a $308,000 judgement filed against it in Sarasota, Fl. in favor of Doctor's Hospital of Sarasota

U.S. Office Products Co. of Washington, D.C. reported a fourth quarter net loss of $121 million on an 8% sales decline--to $607 million.  This compares with a $97 million loss for the same period one year earlier.  The company reported a fiscal net loss of $193.7 million on a 7% sales decline--to $2.4 billion.

Vermont Pure Holdings, Ltd., a Randolph, Vt. water distributor, reported a first quarter net loss of $89,000 on revenue of $8.2 million.  This compares with income of $439,000 for the same period one year earlier.

Wachovia Corp., the Winston-Salem, N.C. banking firm which expects to take a second quarter charge of $200 million as an allowance for loan losses and whose revenue stream has slowed somewhat, now expects its earnings for the period to be below expectations.  The announcement is of concern to investors and bank analysts as Wachovia is the first "sizeable" bank to express concern over its second quarter results. 

June 20, 2000

 

Camera Platforms International Inc. has now seen the U.S. Bankruptcy Court approve its plan of reorganization.  According to the plan, DOOFF, LLC has now purchased a 49% interest in Camera while also providing it with a $250,000 line of credit.

CARA Collision & Glass, a Minnesota auto body shop chain which operates thirteen outlets from Minnnesota and Milwaukee, has now filed for bankruptcy protection listing assets and liabilities of $9.5 million and $9.8 million respectively.

Costilla Energy Inc. has now seen the U.S. Bnakruptcy Court in Texas approve the sale of nearly all of oil and gas assets to Louis Dreyfus Natural Gas Corp. for more than $133 million.

Digital Entertainment Network Co. has now filed Chapter 11 in Los Angeles.  The firm, which as backed by such financial heavyweights as Chase Manhattan, Microsoft, Intel as well as Dell Computer, listed assets of between $1 million and $10 million.

Michael Petroleum Corp. hsa now seen its committee of unsecured creditors file an objection to its second amended joint disclosure statement.  The committee insists that not only is the disclosure statement unconfirmable "as is" but the committee feels that the company has one bid for its assets that could result in unsecured creditors receiving a greater return on their claims.

Oregon Potato Co. dba Washington Potato Co. of Warden, Wa. has now filed for Chapter 11 protection in Portland, Or.  It should be noted that the company has obtained a committment of as much as $12 million in financing from General Electric Capital Corp.

Southwest Holding Inc., which recently reported that its reorganziation plan is now effective, also reported that it has obtained a new revolving credit agreement with several lenders. 

June 21, 2000

Corel Corp., Ottawa, Ontario, reported a second quarter loss of $23.6 million on a 48% decline in sales--to $36.6 million. The maker of word-processing software, which recently laid off more than 300 employees (more than 20% of its workforce) and whose cash reserves have sunk from $29 million to less than $10 million over the past quarter, warned that, unless it finds additional ways to raise money and cut costs, there is serious doubt about its ability to continue operating.

A 6/23 hearing has been scheduled to consider an order on the sale of certain assets in the Devlieg-Bullard Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Sean Malloy, at 216-348-5400. 

International Trading & Engineering Corp., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing. 

Lighting Supply Co., Pineville, N.C., has now filed Chapter 7 owing its major creditor, Finova Mezzanine Capital Inc., $5 million. Lighting Supply formerly did business as Premium Lighting Supply Inc.

MidCity Furniture, Cleveland, Oh., has now filed Chapter 13 in the U.S. Bankruptcy Court in Cleveland. No schedules were listed in the filing.  The case number is 00-13714.

Montgomery Pediatric Care PA, Wheaton, Md., has now filed Chapter 7 in the U.S. Bankruptcy Court in Baltimore listing assets of between $100,000 and $500,000 and liabilities of between $500,000 and $1 million. The case number is 00-15593.

Pepper Mechanical Services Inc., La Plata, Md., has now filed Chapter 7 in the U.S. Bankruptcy Court in Baltimore listing assets and liabilities of $117,000 and $573,000 respectively. The case number is 00-15531.

R.C. Auto Recyclers Inc., Philadelphia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. The case number is 00-16834.

Raytel Medical Corp., a San Mateo, Ca. medical-devices and services firm, reported its second quarter net declined more than 30%--to $880,000--on a 7% revenue decline--to $24.6 million.

Scripps Memorial Hospital East County in San Diego, Ca. has now closed its doors. The company is still continuing discussions to be purchased by Leland Medical Center of Dallas, Tx.

Stiffel Co., a Chicago, Il. lamp maker, has closed its operations in Chicago, laid off 300 employees and put its assets on the selling block.

United Homes, a bankrupt Rolling Meadows, Il. homebuilder, has seen Chicago, Il. auction company Sheldon Good & Co. appointed to set up an auction of United's 300 residential properties in August.

June 22, 2000

Aerospace Welding Corp., Valencia, Ca., has now filed Chapter 11. No schedules were listed in the filing.  For further information contact the debtor's attorney, Richard Hofman, at 818-999-2124. 

American Vascular Clinics Inc., Winter Park, Fl., has now filed Chapter 7. No schedules were listed in the filing.  

Bluey's Cafe, Mentor, Oh., has now filed Chapter 7 in the U.S. Bankruptcy Court in Cleveland. The company listed assets and liabilities of $116,000 and $533,000 respectively. The case number is 00-13619.

Dreamer Vision/Impressive Magazines Inc., a Los Angeles, Ca. distributor of magazines, has now filed Chapter 7 listing assets of only $87,000 and liabilities of more than $660,000. The case number is LA00-24499-KM. For further information contact the debtor's attorney, Robert Leon, at 213-625-0161.

First National Service Inc., Beverly Hills, Ca., has now filed Chapter 11. No schedules were listed in the filing.  The case number is LA00-24642-SB. For further information contact the debtor's attorney, Majid Safaie, at 310-207-2368.

KIA Intertrade of America Inc., a Torrance, Ca. car, medical equipment and electronics company, has seen an involuntary Chapter 7 petition filed against it. The case number is LA00-24859-KM. For further information contact the petitioner's attorney, M.L. Geller, at 214-802-9332.

Sam Cusano, chief executive officer of bankrupt Service Merchandise Inc., said in a recent interview that he expects his company to emerge from Chapter 11 protection in the first half of next year. Now with 220 stores and 12,000 employees, or about half its size of a year ago, Service Merchandise is reopening some stores with a smaller line of products but more of its top-selling items such as jewelry. The Nashville, Tn.-based retailer is spending about $150 million between this year and next on repositioning itself.

SSM Health Care, a St. Louis, Mo. healthcare system, recently announced that it incurred an operating loss of $33 million last year as a result of cutbacks in reimbursements from Medicare and managed-care programs. It should be noted that as a result of investments SSM's net income last year reached $31 million. The company could be on the rebound, however, as it recently announced that it will eliminate some of its management in a cost-cutting plan and now expects operating income for the first four months of this year to increase about 4% from the year-earlier period.

Transcoastal Marine Services Inc., a Houston, Tx. firm that provides offshore-rig repair services, filed Chapter 7 in the U.S. Bankruptcy Court for the Southern District of Texas.

Unitrendix Corp., a Torrance, Ca. information-technology consulting firm, has now filed Chapter 11 listing assets and liabilities of $4.5 million and $8.1 million respectively. The case number is LA00-24638-EC. For further information contact the debtor's attorney, Lorraince Loder, at 213-623-8774.

June 23, 2000

 

Argo-Tech Corp. of Euclid, Oh., after reporting a six month loss of $1.8 million on sales of $84 million, said that it laid off ninety employees (10% of its workforce). Argo-Tech, a manufacturer of pumps and fueling systems for aircraft, is suffering from a downturn in the industry, with sales of finished aircraft expected to decline about 4% this year. 

California Psychiatric Management Services of Los Angeles, Ca., which recently filed Chapter 11, said that its lenders have agreed to continue funding it in order to keep it operating. California Psychiatric, which owns VillaView Community Hospital in San Diego and Bayview Hospital in Chula Vista, will seek to restructure in finances. The company, which incurred a large debt when it purchased VillaView last year, has reportedly defaulted on some of its payments to medical-equipment vendors.

Creditrust Corp. filed Chapter 11. The filing is considered unusual, as the firm's assets of $116 million exceed its liabilities by $90 million. Creditrust also reportedly has a positive cash flow.

Flooring America Inc., Kennesaw, Ga., has moved Steve Coburn, its executive vice president of operations to the position of chief financial officer. The move is part of a management reorganization by the flooring retailer, which recently filed Chapter 11.

Furniture.com Inc After withdrawing a planned initial public offering, Furniture.com Inc., an Internet retailer, cut its payroll by eighty employees (41% of its workforce) in an attempt to cut costs and attain profitability. The financially-troubled Framingham, Ma. firm had planned to raise $50 million in the IPO but called it off, citing poor market conditions.

Garden Inn Inc., Pittsgrove, N.J., has now filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. No schedules were listed in the filing.  The case number is 00-14730.

Gateway Communications, a financially-troubled Blue Ash, Oh. computer-networking company which had considered putting itself on the selling block, filed Chapter 11 listing assets and liabilities of $1.5 million and $6.2 million respectively.

Genesis Health Ventures Inc., a Kennett Square, Pa.-based nursing-home and healthcare-supplies company, has filed Chapter 11 in the U.S. Bankruptcy Court in Delaware along with its 43%-owned Multicare Cos. unit. Genesis listed liabilities of $1.5 billion and Multicare listed $250 million in liabilities. The companies have been hurt by cutbacks in federal reimbursements.

Jetform Corp., an Ottawa, Ontario maker of automation-software products, reported a fiscal net loss of $5.5 million. Its revenue for the period declined 17%--to $64.1 million. The results included a nonrecurring gain of nearly $750,000.

Metal Building Specialist Inc., Ogden, Ut., has filed a petition for a Chapter 7 liquidation in the U.S. Bankruptcy Court for the District of Utah. No schedules were listed in the filing, but it is believed that no funds will be available to pay off unsecured creditors.

Power Page Communications, Philadelphia, Pa., filed Chapter 7 in the U.S. Bankruptcy Court in Pennsylvania. No schedules were listed in the filing.  The case number is 00-17208.

June 27, 2000

 

Catholic Health East, a Newtown Square, Pa. hospital network which accumulated a $27.7 million operating deficit in 1999, has seen its bond rating placed on Moody's Investors Service's Watchlist. The possible downgrade of its bonds could affect $1.3 billion of its outstanding debt.

Concur Technologies Inc. of Redmond, Wa. announced that it laid off sixty-eight employees (13% of its workforce). The move is part of the company's efforts to reduce costs and refocus its business on providing applications services. The firm said that as a result of its restructuring it would incur an unspecified loss for its current quarter.

Fellowship Tabernacle Community Church, Philadelphia, Pa., has now filed Chapter 11 in the U.S. Bankruptcy Court in Philadelphia. The company listed assets and liabilities of between $500,000 and $1 million each. The case number is 00-17481.

Filene's Basement Corp., the Wellesley, Ma. firm which in March was bought out of Chapter 11 bankruptcy protection by Value City Department Stores Inc. of Columbus, Oh., has been put under the direction of Alan Schlesinger. Mr. Schlesinger has experience working for troubled companies, having served during Lamonts Apparel Inc.'s Chapter 11 reorganization. He led that retailer in eliminating $90 million of its debt, closing stores and arranged new financing. Mr. Schlesinger's official positions now are president and chief executive officer of Base Acquisition Corp., the unit of Value City which operates Filene's Basement's remaining seventeen locations.

Granny Goose Foods Inc., the Oakland, Ca. snack-food maker, will be sold off through a general assignment for creditors, a state court proceeding which is considered faster and cheaper than a federal bankruptcy filing. Unsecured creditors, which are owed about $10 million, are unlikely to receive and payments.

Jetronic Industries Inc., a Philadelphia, Pa. maker of precision electronic communications equipment, switches and computer products, is trying to regain its footing in order to reassure investors, who seem to be more and more interested in pushing for a sale of the firm. Jetronic is facing a number of difficulties, including a late filing for last year's annual report as well as this year's first quarter filing, allegedly missing interest payments on debt and an anticipated loss for the remainder of the year, not to mention the vanishing value of its stock. Also, Jetronic's Transchem Inc. subsidiary  in California is in hot water, with a federal indictment having been handed up against it and two of its former executives for allegedly bypassing tests needed for contracts it performed for the government.

Nu-Kote Holdings Inc., a Franklin, Tn. maker of printer supplies, said that it would extinguish its existing stock as part of its Chapter 11 reorganization, with shareholders to receive nothing for their current holdings. In addition, the company has agreed with its lenders on a deal to be acquired by Richmont Capital Partners I LP of Dallas, Tx.

PlanetRx.com Inc., a San Francisco, Ca. online drugstore, announced that it laid off seventy employees (about one-sixth of its payroll) in an effort to cut costs.

June 28, 2000

 

Automata International Inc., a Sterling, Va. manufacturer of printed circuitboards, has now filed Chapter 11 in the U.S. Bankruptcy Court in Delaware listing assets and liabilities of more than $50 million each. The case number is 00-0284.

Craft King Inc., Lakeland, Fl., has now filed Chapter 7 listing assets and liabilities of $396,000 and $533,000 respectively.

Crown Cork and Seal Co., a Philadelphia, Pa. maker of metal cans for food companies, said that it will lay off 1,150 employees. The company, which also said its second quarter results will be brought down by higher raw-material prices and weakened sales, has seen its stock price drop by nearly half over the past year.

Elite Logistics Transport Inc., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

Gonzalez Trading Corp., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

International Training & Engineering Corp., Miami, Fl., has now filed Chapter 11. No schedules were listed in the filing. 

Super Pride Food Market, a Baltimore, Md. grocery chain, has closed two of its eight locations and plans on shutting a third store as a result of competition in the market.

U.S. Homecare Corp., a Hartford, Ct.-based provider of home healthcare services, is closing its office in Latham, N.Y. and its two homecare agencies in that region, U.S. Homecare Certified Corp. of New York and U.S. Homecare of the Capital Region.  Although the Latham operations had been profitable for more than thirty years, it was forced to close as a result of the foreclosure and liquidation of the parent company by Chase Manhattan Bank of New York.

Wood Waste Recycling Inc., Lakeland, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

 

June 29, 2000