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/raid1/www/Hosts/bankrupt/TCR_Public/990205.MBXT R O U B L E D C O M P A N Y R E P O R T E R Friday, February 5, 1999, Vol. 3, No. 25 Headlines ALPHA BETA TECH: To Close Local Plants, Liquidate AMPACE CORP: Meeting of Creditors BOSTON REGIONAL: Medical Center Files Bankruptcy BRAZOS SPORTSWEAR: Seeks To Continue Credit Procedures CITYSCAPE FINANCIAL: Statements of Operations CRIIMI MAE: Court Extends Exclusivity CRIIMI MAE: Management Committee Supports Cash Collateral ELDER BEERMAN: Total Sales Increase 16.8% In January HEARTLAND WIRELESS: Order Approves Disclosure Statement JUMBOSPORTS: Extension To Assume/Reject Leases LEVITZ FURNITURE: Colorado Properties Subject of Sale MJDESIGNS INC: Files For Bankruptcy In Dallas MONTGOMERY WARD: 4th Extension To Accept/Reject Leases NORTH AMERICAN VACCINE: Marketing Authorization in Germany OKURA & CO: Seeks Approval of Agreement With Marubeni PARAGON TRADE: Companies Settle Diaper Dispute PARAGON TRADE: Sixth Motion To Extend Exclusive Periods PHP HEALTHCARE: Arthur Andersen Authorized For Committee PITTSBURGH PENGUINS: Face Off Against Two Opponents RIO GRANDE: First Amended Disclosure Statement Approved SALANT CORP: Disclosure Statement Wins Nod TRINITY GAS: Announces Reorganization, New Management USMX OF ALASKA: Motion For Dismissal of Cases VITALE ENTERPRISES: Addendum to Confirmation Order DLS CAPITAL PARTNERS: Bond Pricing For Week of 2/1/99 ********* ALPHA BETA TECH: To Close Local Plants, Liquidate ------------------------------------------------- The Providence Journal reports on January 30, 1999 that Alpha-Beta Technology has announced that it will liquidate its assets and close its operations in Worcester, Mass., and Smithfield, shrinking from 92 to 7 employees. The once-hot biotechnology company, which last week stopped clinical trials on its main product, said its liabilities exceed its assets and "there will not be any residual value for stockholders." Its biggest single liability, according to Spiros Jamas, Alpha-Beta president and chief executive, is a $30 million state loan from Rhode Island, used to build its Smithfield manufacturing plant. The state will take possession of the factory after the company defaults on the loan Monday. The default leaves Rhode Island in possession of a $40 million, 50,000-square-foot biotechnology plant in Smithfield, and Rhode Island taxpayers potentially liable for millions of dollars in loan payments. The Nasdaq Stock Market delisted the company as of yesterday, saying it no longer meets minimum Nasdaq requirements. This means the stock, which was selling for 72 cents a share when trading was suspended Jan. 22, will not be traded on Nasdaq. Whether the stock will trade on the over-the-counter bulletin board is uncertain, Jamas said. The company plans to continue its antifungal research at its MycoTox subsidiary in Denver, Colo. That is where the company's seven remaining employees will focus their attention. Alpha-Beta's troubles are the result of the failure of its lead product, Betafectin, in a clinical trial. The company announced Jan. 22 that, based on an interim analysis of data from the first 312 patients in the trial, there was not enough evidence that the drug would work to warrant continuing the study. Betafectin was supposed to prevent serious infections in upper- gastrointestinal surgery patients. The Rhode Island plant was built to manufacture Betafectin for clinical trials and subsequent commercial production if the drug proved successful. It was financed with $10 million from Alpha-Beta and a $30-million loan from the former Rhode Island Port Authority and Economic Development Corporation. The corporation sold bonds to finance the loan. The unpaid principal is $26.8 million. Alpha-Beta missed a scheduled loan payment last Monday, but will not be in default until the close of business next Monday. To cover the bond costs, the Rhode Island Economic Development Corporation will try to sell or lease the plant and its equipment, which are collateral for the loan. Rhode Island taxpayers are responsible for any shortfall between what is owed the bondholders and the value of the plant. Alpha-Beta said it would pursue an out-of-court liquidation. It has transferred its assets to an assignee, Joseph F. Finn Jr. of Finn, Warnke & Gayton, who will liquidate them and distribute any proceeds to creditors. Jamas said the company is still working to assess its liabilities. Besides the Smithfield factory, Alpha-Beta's assets are its MycoTox research program, and rights to intellectual property, chiefly patents, patent applications and license agreements. AMPACE CORP: Meeting of Creditors --------------------------------- In the case of Ampace Corporation, a meeting of creditors is set for March 12, 1999 at 11:00 AM, 844 King Street, Room 2313, Wilmington, Delaware 19801. Attorney for the debtor is Mark Minuti, 222 Delaware Ave., Suite 1200, Wilmington, Delaware 19899 (302) 421-6840. The debtor's address is 201 Perimeter Park, Knoxville, TN 37922. The debtor filed for bankruptcy on December 15, 1998. BOSTON REGIONAL: Medical Center Files Bankruptcy ------------------------------------------------ The financially troubled Boston Regional Medical Center in Stoneham files for Chapter 11 bankruptcy on February 4, 1999. The hospital says it will close down by the weekend, putting some 800 full- and part-time employees out of work. BRAZOS SPORTSWEAR: Seeks To Continue Credit Procedures ------------------------------------------------------ The debtors, Brazos Sportswear, Inc., et al., seek approval to continue the use of prepetition customer charge-back, mark-down and credit procedures. The debtor states that these procedures are routine in the debtors' business, and are essential to the maintenance of the debtors' relationships with their customers. Many customers might simply decline to place future orders with the debtors. CITYSCAPE FINANCIAL: Statements of Operations --------------------------------------------- For the month ended December 31, 1998, Cityscape Financial Corp. reports total revenues of $522,518 and a net loss applicable to common stock of $4,483,863. Net cash provided by operating activities for the month totaled $3,744,020 and cash and cash equivalents at the end of the period totaled $18,455,978. CRIIMI MAE: Court Extends Exclusivity ------------------------------------- The court overseeing the Chapter 11 reorganization of CRIIMI MAE Inc. (NYSE: CMM) has granted the company's motion for a six-month extension of the periods within which CRIIMI MAE Inc. and two affiliates have the exclusive right to file plans of reorganization and solicit acceptances of those plans. * The court extended the period during which CRIIMI MAE and its affiliates have the exclusive right to file a plan of reorganization from February 2, 1999 through and including August 2, 1999. * The court also extended the period during which CRIIMI MAE and its a affiliates have the exclusive right to solicit acceptance of a plan of reorganization from April 3, 1999 through and including October 3, 1999. The order acknowledges the right of CRIIMI MAE and its affiliates to further extend such exclusive periods. It also acknowledges the right of other parties in interest to seek to shorten the exclusive periods and oppose further extensions of time. Parties in interest also have the right to seek reconsideration of the court's order. Before filing for reorganization, CRIIMI MAE had been actively involved in acquiring, originating, securitizing and servicing multifamily and commercial mortgages and mortgage related assets throughout the United States. Since filing for Chapter 11 protection, CRIIMI MAE has suspended its CMBS acquisition, loan securitization, loan underwriting and loan origination businesses. The company, however, continues to hold a substantial portfolio of subordinated CMBS and its servicing affiliate, which is not in bankruptcy, acts as a servicer for its own as well as third party portfolios. CRIIMI MAE: Management Committee Supports Cash Collateral --------------------------------------------------------- The Official Committee of Unsecured Creditors appointed in the CRIIMI MAE Management, Inc.("CMI") case supports the amended motion authorizing use of cash collateral pursuant to the terms of a stipulation and agreed order between CRIIMI MAE, Inc. and German American Capital Corporation. The Management Committee has reviewed the Stipulation and believes it represents a fair and reasonable compromise of the disputes at issue. The Management Committee was assured at the meeting of creditors that counsel for CMI is thoroughly investigating all claims that CRIIMI MAE Management may have against German American Capital Corporation and others. ELDER BEERMAN: Total Sales Increase 16.8% In January ---------------------------------------------------- The Elder-Beerman Stores Corp. (Nasdaq:EBSC) today announced sales results for the four weeks, fourth quarter and fiscal year ended January 30, 1999. January total department store sales, including sales for the eleven retained Stone & Thomas stores, increased 16.8 percent to $25.8 million. Comparable sales for Elder- Beerman department stores increased 0.5 percent from the same period last year. Total consolidated sales, including both the Bee-Gee Shoe Division and the eleven retained Stone & Thomas stores, increased 15.7 percent to $27.4 million. On a consolidated basis, including Bee-Gee, January comparable sales increased 0.7 percent. Comparable sales results include the Dayton Mall flagship store. Elder-Beerman also reported that total sales for its Bee- Gee Shoe Division for the month were $1.6 million, an increase of 1.1 percent. Comparable sales for Bee-Gee in January increased 4.6 percent over the same period last year. For fiscal 1998, Elder-Beerman reported total department store sales, including eleven former Stone & Thomas stores, increased 9.3 percent to $601.2 million, and comparable sales for the department stores, including the Dayton Mall flagship store, increased 4.1 percent over fiscal 1997. Consolidated total sales for fiscal 1998 increased 8.8 percent to $632.4 million and increased 3.9 percent on a comparable basis over fiscal 1997. Frederick J. Mershad, Chairman and Chief Executive Officer, said, "Our overall performance in January was solid, given the severe winter weather in most of our markets early in the month and the fact that we were up against a 14 percent department store comparable sales increase in January 1998. The weather forced more than 940 store hours of closings, which was more than 5 percent of our January store hours. Facing these closings and our strong January 1998 performance, we view our performance in January 1999 as positive." The company noted that its ladies' better sportswear, shoes, cosmetics and home store businesses all performed well, while its ladies' moderate sportswear, juniors' and men's businesses lagged. The cold weather early in the month also spurred a resurgence in the company's cold weather related businesses. Commenting on fiscal 1998, Mershad stated, "We are pleased with our overall sales performance in 1998. Although November and December were somewhat disappointing due to unseasonable weather and an extraordinarily promotional environment, our 4.1 percent department store comparable sales increase represents a solid first year out of bankruptcy. We also end the year with our inventories in line with our expectations." The nation's eighth largest independent department store chain, The Elder-Beerman Stores Corp. now operates 60 stores in Ohio, Indiana, West Virginia, Michigan, Illinois, Kentucky, Wisconsin and Pennsylvania. Headquartered in Dayton, Ohio, Elder-Beerman reported total revenues of $607.9 million and net sales from store operations of $581.4 million on an operating base of 48 stores in 1997. The company's Bee-Gee Shoe Division operates 56 El-Bee and Shoebilee! shoe stores in seven states. Elder- Beerman also operates two furniture superstores. HEARTLAND WIRELESS: Order Approves Disclosure Statement ------------------------------------------------------- On January 19, 1999, the court approved the Disclosure Statement of Heartland Wireless Communications, Inc. The hearing to consider confirmation of the plan will be held before the Honorable Joseph J. Farnan, Jr., United States District Judge, 844 King Street, 6th Floor, Wilmington, Delaware 19801 on March 15, 1999 at 10:00 AM. JUMBOSPORTS: Extension To Assume/Reject Leases ---------------------------------------------- JumboSports, Inc., debtor, together with its debtor affiliates filed a motion for extension of time to assume or reject unexpired leases of nonresidential real property. As of the Petition Date, the debtor operated approximately 59 "big box" sporting goods superstores and 3 warehouse distribution centers in 23 states across the country and employed approximately 3,000 persons. The debtors are seeking to reject 10 leases as proposed in a certain going-out-of-business motion, and the debtor seeks to extend the period under Section 365(d)(4) with respect to these leases in order to implement the lease rejection procedures. The debtors believe that cause exists to grant the extension of time they are seeking. The debtors state that since the beginning of the case they have sought court authority to conduct going out of business sales at 18 stores, sought approval for a $135 million DIP financing arrangement with the Secured Lenders and have diligently worked to prepare their Schedules of Assets and Liabilities, Statement of Financial Affairs, and Schedules of Executory Contracts and Unexpired Leases. The debtors continue to conduct their analysis of the leases, but require additional time to finalize their business plan and the impact of the leases upon such plan. The debtors request that the court enter an order extending the time in which to assume or reject the leases through confirmation of a plan of reorganization. LEVITZ FURNITURE: Colorado Properties Subject of Sale ----------------------------------------------------- Levitz Furniture Incorporated, et al., debtors, seek authority for the sale of certain property located at 5655 North Academy Boulevard, Colorado Springs, Colorado and the property located at 11111 West 6th Street, Lakewood, Colorado to Stephen F. Elken and Thomas A. Gart, buyers. The buyers have agreed to pay the debtors $6,935,000 in exchange for the Colorado properties. If the debtors sell the property to a party other than the buyer, the buyers will receive a termination fee, not to exceed 3% of the purchase price. The debtors are soliciting competing bids for the sale of the Colorado Properties pursuant to the Option Agreement. Bids must be received by February 10, 1999. Competing bids must contain a minimum initial bid that increases the purchase price by at least 4%, i.e. $7,212,400, and comply with other conditions of the offer. If the debtors receive any qualified overbids, an auction will be held on February 12, 1999. MJDESIGNS INC: Files For Bankruptcy In Dallas --------------------------------------------- MJDesigns Inc. filed for Chapter 11 Tuesday at 12:01 a.m. in the U.S. Bankruptcy Court in Dallas. The petition estimates assets and liabilities are both in the $50 million to $100 million range and that funds likely will be available to unsecured creditors. As reported, the chain of craft stores has closed 11 stores in the last few months and put its corporate headquarters and warehouse, with an estimated value of $20 million, up for sale. Houlihan Lokey Howard & Zukin was retained last November and has been soliciting investors in MJDesigns, which is privately held by founder Michael Dupey and his family. Mike Nuzum, president of the company, also owns a stake in the company. (The Daily Bankruptcy Review and ABI Copyright c February 4, 1999) MONTGOMERY WARD: 4th Extension To Accept/Reject Leases ------------------------------------------------------ The debtors, Montgomery Ward Holding Corp., et al., seek to further extend the time period to assume, assume and assign or reject their unexpired nonresidential real property leases through August 31, 1999. The debtors argue that they have actively pursued their new business strategy and focused on their reorganization efforts. Since the inception of the cases, the debtors have closed a significant number of stores and have either, assumed, assumed and assigned or rejected almost all fo the leases relating to these stores. The debtors are continuing to monitor the performance of the remaining Montgomery Ward stores to determine whether any additional store closings will be necessary. The debtors are currently a party to approximately 285 unexpired nonresidential real property leases. The debtors believe that an extension through August 31, 1999 is reasonable and justified. Such an extension will insure that the debtors maintain the optimum flexibility in restructuring their operations and are not precluded from pursuing otherwise available reorganization options because of hastily made decisions. The debtors also state that the extension will insure that the debtors do no t inadvertently reject a valuable lease or prematurely assume an undesirable lease, needlessly incurring a substantial administrative obligation. NORTH AMERICAN VACCINE: Marketing Authorization in Germany ---------------------------------------------------------- On February 1, 1999, North American Vaccine announced that it has received notification that the German regulatory authorities have issued a national marketing authorization for the company's combined diphtheria, tetanus, acellular pertussis and inactivated injectable polio ("DTaP-IPV") vaccine. Under the German marketing authorization, the DTaP-IPV vaccine will be utilized for active immunization against diphtheria, tetanus, pertussis (whooping cough) and polio in infants. The DTaP-IPV will be marketed and distributed in Germany by Chiron Behring, under the terms of an existing distribution agreement. OKURA & CO: Seeks Approval of Agreement With Marubeni ----------------------------------------------------- Okura & Co. (America), Inc., debtor seeks approval of a certain agreement with Marubeni America Corporation and Marubeni Aerospace Corporation. Okura Japan is currently liquidating its assets and has recently sold its aerospace division to Marubeni Aerospace Corporation. As a result, the debtor has approximately $29,818,228 worth of purchase orders in the pipeline between itself and third-party vendors which the debtor cannot facilitate due to financial and other constraints. Pursuant to the terms of the Agreement, Aerospace will advance the funds necessary, including the debtor's commission, to the debtor such that the debtor can pay third-party vendors to ship pursuant to the Hot Shipment Purchase Orders. Additionally, Marubeni America shall pay the debtor a flat fee for the cold shipment purchase orders and other assets. If the court does not approve the agreement, the purchase orders will become worthless. PARAGON TRADE: Companies Settle Diaper Dispute ---------------------------------------------- Paragon Trade Brands Inc., maker of disposable diapers has agreed to pay Procter & Gamble Co. $163.5 million to settle P&G's complaint that the competitor infringed on a patented design. Paragon, of Norcross, Ga., agreed to pay the money as part of the company's Chapter 11 bankruptcy reorganization. Paragon was forced into reorganization a year ago after a Delaware judge ordered the company to pay $178.4 million to P&G. Paragon also agreed to pay license fees to use P&G's patented diaper technology. Those fees amount to about 2 percent of sales revenues, P&G spokesman Scott Stewart said Wednesday. "We felt that Paragon's infringement really had hurt our company, and the amount of the settlement reflects that," Stewart said. The $163.5 million payment resulted from negotiations between the companies. P&G had said in its lawsuit that Paragon infringed on patents for elastic gatherers inside diaper leg cuffs. P&G, based in Cincinnati, makes and sells more than 300 brands of food, beverage, cosmetic, health and paper products. PARAGON TRADE: Sixth Motion To Extend Exclusive Periods ------------------------------------------------------- Paragon Trade Brands, Inc., debtor, is seeking an order further extending Paragon's Exclusive Periods to file a plan of reorganization and solicit acceptances thereto. In addition, Paragon continues to negotiate with Kimberly- Clark Corporation with respect to resolving all fo the claims asserted by KC in this bankruptcy case and Paragon believes that considerable progress is being made by the parties. Paragon seeks an extension of the debtor's exclusive periods, to May 1, 1999 and July 31, 1999, respectively. Paragon expects to file a motion to approve the agreement with Procter & Gamble shortly. The debtor states that the extension of the respective Exclusive Periods will allow the parties to finalize all documents, file the appropriate motions to approve the settlements and to propose and seek the confirmation of a plan of reorganization that will incorporate the terms of the settlements. The extension of the Exclusive Periods will, according to the debtor, further allow the parties to continue to focus their efforts on the negotiation of the plan and the confirmation process which will benefit all parties concerned. PHP HEALTHCARE: Arthur Andersen Authorized For Committee -------------------------------------------------------- In the matter of PHP Healthcare Corporation, the court entered an order authorizing the Official Committee of Unsecured Creditors to employ and retain the firm of Arthur Andersen LLP nunc pro tunc to December 8 1998 as accountants and financial advisors for the Committee. PITTSBURGH PENGUINS: Face Off Against Two Opponents --------------------------------------------------- The Pittsburgh Post-Gazette reports on February 3, 1999 that the Pittsburgh Penguins will square off against two opponents Tuesday in U.S. Bankruptcy Court when they ask the judge to approve two of their motions. The National Hockey League Players Association and the creditors committee both objected to the team's request to extend the time it has to file a reorganization plan. The team has until next Wednesday as an exclusive period to file its own reorganization plan. On Jan. 13, the team requested that its time be extended until April. That motion by the team has now been opposed by the players and creditors. The creditors argued that the team has filed inaccurate and erroneous information which means the committee could not rely on those documents to help move the reorganization process forward. They also argued that the team has to be reorganized quickly for the franchise to survive because in the spring the team will start selling season tickets for the next season and will make the decisions about next season's team roster. The association and the committee also objected to the team hiring a second law firm to represent it in bankruptcy court. They wanted the team to choose one firm and stay with it. The team has been represented by Robert G. Sable of Sable Pusateri Rosen Gordon and Adams but on Jan. 15 filed a motion asking to be allowed to hire James R. Walsh of Spence, Custer, Saylor, Wolfe and Rose of Johnstown as co- counsel. RIO GRANDE: First Amended Disclosure Statement Approved ------------------------------------------------------- On January 21, 1999, the court entered an order finding that the First Amended Disclosure Statement of Rio Grande, Inc. and its affiliated debtors contains adequate information. A hearing on confirmation of the plan is set for 3:30 on the 4th day of March, 1999, before the Honorable Leif M. Clark, U.S. Bankruptcy Court, Western District of Texas, San Antonio Division, 615 E. Houston Street, Courtroom No. 1, Third Floor, San Antonio, Texas. SALANT CORP: Disclosure Statement Wins Nod ------------------------------------------ The court approved Salant Corp.'s disclosure statement yesterday after the company addressed the objection of the U.S. Trustee by agreeing to pay unsecured creditors interest on their claims rather than classifying the group as impaired and thus allowing them to vote on the plan, according to an attorney for Salant. "The judge agreed that our class of general unsecured creditors, which is unimpaired, should get interest and we agreed to do that," said Robert Gerber of Fried Frank Harris Shriver & Jacobson. How much the additional interest will amount to was not quantified in the court room and Gerber said he did not feel comfortable giving an estimate. (The Daily Bankruptcy Review and ABI Copyright c February 4, 1999) TRINITY GAS: Announces Reorganization, New Management ------------------------------------------------------ Trinity Gas Corporation (Trinity) announces its emergence from Chapter 11 bankruptcy under the direction of new management. The corporation, formerly headquartered in Brownwood, TX, has relocated its base of operations to Houston. Thomas C. O'Dell, former vice president of Conoco and president of Conoco Overseas Oil Co., has been named as the new chairman of the board and chief executive officer of the reorganized company. Michael L. Wallace, a 1998 appointee to the executive board of the Gas Industry Standards Board, has been named president and chief operating officer. John Glenn of Chicago has been named vice president, treasurer and chief financial officer. Also appointed to serve on the board of directors were: A.C. Teichgraeber of Houston, TX; Dennis E. Hedke of Wichita, KS; and Bruce E. Reichert, Ph.D., of Houston, TX. Members of an advisory board of directors were also named and include: Kenneth R. Peak of Dallas, TX; Charles L. Canfield of Dallas, TX; Roger Curtis of Casper, WY; Mary Jane Reynolds of Washington, D.C.; and A. Bernard Jones, also of Washington, D.C. According to Wallace, members of the advisory panel will serve in advisory capacity only, and will not have voting powers. Wallace said the company's new executive management "will bring a strong international focus to Trinity and build a portfolio of highly attractive international oil and gas opportunities with significant growth and earnings potential. Domestically, the corporation has 45 wells in inventory in Texas, Colorado, and Wyoming." He said the company is moving rapidly to add significant value to its portfolio through imminent expansion into international markets with several highly attractive opportunities that are nearing the end of successful negotiation. USMX OF ALASKA: Motion For Dismissal of Cases --------------------------------------------- USMX of Alaska, Inc. and USMX, Inc., debtors, seek an order dismissing the Chapter 11 petitions of the debtors. Substantially all of the debtors' assets are subject to security interests and liens held principally by NM Rothschild & Sons Ltd. and D.H. Blattner & Sons, Inc. Both creditors have obtained relief from the automatic stay to enforce their liens and security interests in state court. Several other creditors have obtained relief from the stay, including Dewey Mining Company with respect to USMX and that certain Exploration Agreement, Gerald Metals, Inc., regarding various assets and North Pacific Mining Corporation. A receiver was appointed on November 2, 1998, and since that date has been managing and operating the Illinois Creek Mine. Foreclosure proceedings have been commenced by Rothschild and Blattner concerning substantially all of the debtor's assets. The debtors have been unable to propose a plan, and do not have a reasonable likelihood of rehabilitation. The debtors believe that dismissal of the cases is in the best interest of creditors and the estates. VITALE ENTERPRISES: Addendum to Confirmation Order -------------------------------------------------- The debtors, Vitale Enterprises, Inc., et al., have prepared an order for the court. The order states that the plan is confirmed, that Robert B. Wasserman, 225 Millburn Avenue, Millburn, New Jersey, has been appointed Plan Administrator and will serve as Disbursing Agent. It is anticipate d that unsecured creditors will receive approximately 30% on their claims. The date of the initial distribution under the confirmed plan is estimated to be April 4, 1999. DLS CAPITAL PARTNERS: Bond Pricing For Week of 2/1/99 ------------------------------------------------------ The following are indicated prices for selected issues: Acme Metal 10 7/8 '07 13 - 15 (f) Amer Pad & Paper 13 '05 61 - 63 Amresco 9 7/8 '05 77 - 79 Atel 0/14 1/2 '04 13 - 15 Asia Pulp & Paper 11 3/4 '05 66 - 67 Boston Chicken 7 3/4 '05 7 - 8 (f) Brazos 10 1/2 '07 8 - 9 (f) Brunos 10 1/2 '05 14 - 16 (f) Cityscape 12 3/4 '04 14 - 16 (f) E & S Holdings 10 3/8 '06 44 - 48 Globalstar 11 1/4 '04 75 - 77 Geneva Steel 11 1/8 '01 17 - 19 (f) Hechinger 9.45 '12 55 - 60 Hills 12 1/2 '02 95 - 96 Loewen 7.20 '03 66 - 67 Mobilemedia 9 3/8 '07 12 - 14 (f) Penn Traffic 8 5/8 '03 47 - 49 (f) Planet Hollywood 12 '05 32 - 35 Royal Oak 12 3/4 '06 40 - 45 (f) Samsonite 10 3/4 '08 79 - 81 Service Merchandise 9 '04 24 - 26 (f) Sunbeam 0 '18 12 - 13 Trism 10 3/4 '00 48 - 50 Trump Castle 11 3/4 '05 83 - 85 Zenith 6 1/4 '11 24 - 26 (f) ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter, co- published by Bankruptcy Creditors' Service, Inc., Princeton, NJ, and Beard Group, Inc., Washington, DC. Debra Brennan and Lexy Mueller, Editors. Copyright 1999. All rights reserved. ISSN 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $575 for six months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Christopher Beard at 301/951-6400. * * * End of Transmission * * *