August 28, 2000

American Pad & Paper Co. A 9/13 hearing auction has been scheduled for the sale of certain assets in the American Pad & Paper Co. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Mark Collins, at 302-658-6541.

Einstein/Noah Bagel Corp.  A 9/19 hearing has been scheduled to consider confirmation of the reorganization plan in the Einstein/Noah Bagel Corp. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Arizona at 602-640-5800.

GST Telecommunications Inc., a Vancouver, Wa. firm which has been operating under Chapter 11 bankruptcy protection since May, has entered into an agreement to sell nearly all of its assets to Time Warner Telecom Inc., a Littleton, Co.-based local-telephone services carrier, for about $690 million. The deal does not include GST's operations in Hawaii.

Joan and David Helpern Inc.  A 10/2 deadline has been set for filing proof of claims in the Joan and David Helpern Inc. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Albert Togut, at 212-594-5000.

Loews Cineplex Entertainment Corp. of Manhattan, N.Y., one of the biggest movie-theater operators in the U.S., warned of poor second quarter results and said that a default on its debt is possible. The operator of nearly 3,000 movie screens expects to report a loss for the quarter on revenue and cash flow that are expected to fall significantly below last year's figures. Loews is the latest of big movie companies that have run into financial difficulties.

MMH Holdings Inc. A 9/20 deadline has been set for filing proof of claims in the MMH Holdings Inc. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Alan Hyman, at 212-969-2000.

Mobile Information Systems Inc. of Sunnyvale, Ca., which recently filed Chapter 11, has estimated its assets and liabilities at between $10 million and $50 million each.

Tamboril Cigar Co. A 9/19 hearing has been scheduled to consider confirmation of the reorganization plan in the Tamboril Cigar Co. Chapter 11 bankruptcy. For further information contact the U.S. Bankruptcy Court in Miami, Fl. at 305-536-5216.

August 29, 2000

Drkoop.com Inc., the Austin, Tx. Web-based health-services company, raised another $7.5 million in equity financing. This is on top of $20 million Drkoop recently raised, bringing its total to about $27 million. According to the firm's chief executive officer, the money, raised through a group that includes Prime Ventures LLC of Santa Monica, Ca., should provide enough cash to keep Drkoop running for at least another eighteen months.

Four Seasons International Inc., Littleton, Co., has now filed Chapter 7 in the U.S. Bankruptcy Court in Denver listing assets of only $109,000 and liabilities of more than $1.8 million. The case number is 00-19291.

G. Family Enterprises Inc., Fort Worth, Tx., has now filed Chapter 7 in the U.S. Bankruptcy Court in Dallas listing assets and liabilities of between $1 million and $10 million each.

Seatco Inc., a Crandall, Tx. firm which recently filed Chapter 11, has now listed assets and liabilities of between $1 million and $10 million each.

Stage Stores Inc., the bankrupt Houston, Tx. family department-store chain, said that it will sell 107 of its leases.

Sunbeam Corp., the Delray Beach, Fl. maker of consumer products, has struggled now for more than two years under the leadership of CEO Jerry Levin to reorganize the mess left by Mr. Levin's predecessor, Al Dunlap.  Mr. Levin has been trying to remoralize the company's workforce, which saw a drastic restructuring under Mr. Dunlap, and establish better relations with retailers. The firm is also in the middle of an investigation by the Securities and Exchange Commission regarding alleged accounting fraud. But one of the biggest challenges for Sunbeam, which has lost $1.2 billion over the past two years, is its $1.6 billion in long-term debt, part of which was incurred to buy its Coleman Co. camping-goods unit. In a move to reduce debt, the firm recently sold off its Eastpak unit to VF Corp. for nearly $90 million and has put on the selling block its electric-clippers, water-purifier and other lines. For a free copy of an article about Sunbeam call 800-407-9044.

August 30, 2000

Arrow Glass Corp., Landover, Md., has now filed Chapter 7 in the U.S. Bankruptcy Court in Maryland. No schedules were listed in the filing.  The case number is 00-185848.

ATL Courier Inc. and ATL Express Inc. in Atlanta, Ga. have now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia listing combined liabilities of about $970,000. No assets were listed in the filing. The case numbers are 00-70482 and 70483.

A-W Corp. of Fairfax Inc., Alexandria, Va., has now filed Chapter 11 listing assets and liabilities of between $1 million and $10 million each.

Event Masters Inc. and Event Masters International Inc., Atlanta, Ga., filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia. No schedules were listed in the filing.  The case numbers are 00-70557 and 70558.

Livent (U.S.) Inc.  A 9/19 hearing has been scheduled to consider the disclosure statement in the Livent (U.S.) Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Willkie Farr & Gallagher, at 212-728-8000.

MedicaLogic/Medscape Inc. is looking for a new chief financial officer in its latest move to turn itself around. The Portland, Or. maker of software and Internet products has had a difficult 2000 so far. The problems stem in part from its acquisitions earlier in the year of Medscape Inc. and Total eMed Inc., which has resulted in $924 million in goodwill, which MedicaLogic now wants to amortize over the next several quarters.  MedicaLogic, which in its first six months reported a loss of $93.5 million, earlier reduced its payroll by 10% in an effort to cut costs. While some analysts believe that the acquisitions make strategic sense for the firm, Wall Street has pushed down the company's stock price from about $54/share last winter around $5 in recent weeks.

Microstrategy Inc., a Vienna, Va. maker of database-management systems, will lay off 234 employees (10% of its workforce), primarily at its marketing and administrative operations. The cutback is in addition to the recent cancellation of plans to hire more than 230 new workers. The downsizing, which will result in extra costs of as much as $8 million, is expected to cut annual operating costs by about $25 million. Microstrategy recently announced that it had revised recent financial results and found out it had been losing losing money for three years.

Outlaws Inc., which has locations in Easley, S.C. and Atlanta, Ga., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Georgia listing assets of $900,000. Liabilities were not listed. The case numbers are 00-70470.

PC Service Source Inc., a Dallas, Tx. provider of logistics services, has now filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Texas in Dallas. The company, which reported a first quarter loss of $500,000 on a 6% decline in revenue--to $38.2 million, is looking to reorganize its desktop and notebook-repair operations.

August 31, 2000

Advance Flooring Systems Inc., San Francisco, Ca., has now filed Chapter 11. No schedules were listed in the filing. 

Cincinnati Cordage & Paper Co., Cincinnati, Oh., has now filed Chapter 11 listing assets and liabilities of between $10 million and $50 million each.

Drkoop.com Inc., the Austin, Tx. Web-based health-services company, cut its payroll by about one-third in a move to cut costs.  The company recently raised about $27 million to help it continue operating for at least another eighteen months.

Garden Botanika Inc.,  Now six months into his job as acting president and chief executive officer of bankrupt Garden Botanika Inc., Bill Lawrence is hoping to turn around the company's fortunes by licensing its well-known brand name to be used on other products such as towels and bathrobes.  Mr. Lawrence also wants to establish a wholesale division as part of a strategy to sell Botanika's shampoos and cosmetics to other retailers as well as through its own stores.  But serious problems remain at its core retail business. While a sharp drop in overall sales can be attributed to its closing more than half of its nearly 240 stores since filing Chapter 11 a year and a half ago, the Redmond, Wa. company has also suffered an 11% decline in its same-store sales over the past year.

J&W Trucking LLC, Dyersburg, Tn., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Western District of Tennessee. The case number is 00-12865. No schedules were listed in the filing.

Livent (U.S.) Inc. A 9/19 hearing has been scheduled to consider the disclosure statement in the Livent (U.S.) Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Willkie Farr & Gallagher, at 212-728-8000.  

Mainland Marketing Inc., Half Moon Bay, Ca., has now filed Chapter 11 . No schedules were listed in the filing. 

Outboard Marine Corp., which continues to operate in the red despite closing plants and laying off hundreds of employees, has seen its chief executive officer, David Jones, resign.  Mr. Jones, who joined the Waukegan, Il. boat maker three years ago to lead a turnaround, recently stated that Outboard Marine's problems were much more serious than  expected.  Mr. Jones's resignation comes on the heels of the company's recent filing with the Securities and Exchange Commission, in which it claimed it would run out of cash by the end of the year unless it finds additional financing.

Sunterra Corp. A 9/19 deadline has been set for filing competing bids for the Carambola Resort assets in the Sunterra Corp. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Myron Trepper, at 212-728-2000.

September 1, 2000

1470 Food Corp., North Bay Village, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

Allegheny Health, Education and Research Foundation  An 11/1 hearing has been scheduled to consider confirmation of the amended consolidated liquidating reorganization plan in the Allegheny Health, Education and Research Foundation Chapter 11 bankruptcy. For further information contact the debtor's attorney, Alan Hyman, at 212-969-3000.

Asplund Coffee Co., a family-owned Plymouth, Mn. coffee roasting and distribution concern, has now filed Chapter 11 in the U.S. Bankruptcy Court in St. Paul. The firm listed assets and liabilities of $1.4 million and $1.9 million respectively. One analyst believes that the company has a chance to stage a comeback if it can recapitalize. One of the pressures facing smaller coffee companies is the wildly fluctuating price of coffee beans on the world market, which can greatly affect inventory expenses.

Butler Seafoods Inc., Port Angeles, Wa., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Western District of Washington. The case number is 00-7285. No schedules were listed in the filing. 

East European Import Inc., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

Joan and David Helpern Inc. A 9/26 hearing has been scheduled to consider a motion regarding the sale of nearly all of the assets in the Joan and David Helpern Inc. Chapter 11 bankruptcy. For further information contact the debtor's attorney, Albert Togut, at 212-594-5000. 

Mid-South Data Industries Inc., a Homewood, Al. provider of technology solutions, has now filed Chapter 7 with the intention of liquidating. The firm listed assets and liabilities of about $2.5 million each. A deadline of 11/23 has been set for filing claims against the company.

North American Energy Conservation Inc. A 9/21 deadline has been set for filing proof of claims in the North American Energy Conservation Inc. Chapter 11 bankruptcy.  For further information contact the debtor's attorney, Nicholas Kajon, at 212-319-8500.

Southgate Oil, Kent, Wa., has now filed Chapter 7 in the U.S. Bankruptcy Court for the Western District of Washington. The case number is 00-7237. No schedules were listed in the filing. 

U.S.A. Miami Computer & Software Inc., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

World Terminal & Distributor Corp., Miami, Fl., has now filed Chapter 7. No schedules were listed in the filing. 

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