January 32000

January 3, 2000

Fruit of the Loom Is Eighth Largest Public Bankruptcy of
Year

Fruit of the Loom Inc., which filed for chapter 11 protection
last week in the District of Delaware, represents the eight largest
bankruptcy of 1999, according to BankruptcyData.com, a web site which is
a division of New Generation Research. Fruit of the Loom listed $2.29
billion in assets in its latest annual report and follows several other
textiles and apparel companies that filed chapter 11 last year,
including Tultex, Pluma, Forstmann, Brazos Sportswear and Starter Corp.
According to BankruptcyData.com, the largest U.S. public bankruptcies of
1999 are Loewen Group Intl. (funeral services), Iridium LLC/Capital
Corp. (wireless communications), Harnischfeger Industries Inc. (surface
mining equipment), ICO Global Communications (wireless communications),
Sun Healthcare Group Inc. (medical services), First Plus Financial Group
Inc. (consumer financing), Semi-Tech Corp. (consumer durables), Fruit of
the Loom Inc. (underwear and t-shirts), TransAmerican Energy Corp.
(natural gas), MedPartners Provider Network Inc. (pharmaceuticals),
Vencor Inc. (health care services), Breed Technologies (auto protection
systems), Wilshire Financial Services (mortgage financing), Service
Merchandise Co. (retail merchandise), Hechinger Co. (home
improvement/garden) and Penn Traffic Co. (food distribution). The
company's annual ranking is based on assets listed in each company's
annual report prior to the filing of the bankruptcy petition.

Bankruptcy Creditors Service Inc. announced today publication of
'Fruit of the Loom Bankruptcy News,' a newsletter that will track the
chapter 11 filing of Fruit of the Loom Inc., Fruit of the Loom Ltd. and
32 domestic subsidiaries. The first issue, released last week, includes
background information on operations and finances, detailed information
from the bankruptcy petitions, a list of the largest creditors, an
outline of the $625 million debtor-in-possession financing facility led
by Bank of America N.A. and key dates and deadlines in the chapter 11
case. The newsletter is distributed on a subscription basis by email for
$45 per issue. A free copy of the first issues is available at
href='http://www.bankrupt.com/fruit.txt'
target='_parent'>http://www.bankrupt.com/fruit.txt.

Bruno's to Emerge from Bankruptcy Without Debt

Bruno's Inc., Birmingham, Ala., announced that the Bankruptcy
Court for the District of Delaware has confirmed its plan of
reorganization and that the company will emerge from bankruptcy this
month, according to a newswire report. President and CEO James A. Demme
said that the company will emerge from bankruptcy as a 'stand-alone,
debt-free' company and that 'Despite our chapter 11 status this past
year, we managed to refurbish 16 of our stores and acquire three new
stores in Alabama.' The plan provides for substantially all Bruno's
assets to be transferred to a newly created corporation named Bruno's
Supermarkets Inc., which will be owned by the financial institutions
that held Bruno's senior debt. No single financial institution will own
a controlling share of the new company. Bruno's operates 152
supermarkets in Alabama, Georgia, Florida and Mississippi.

Wilcox & Gibbs Files Revised Plan

Wilcox & Gibbs Inc., Carteret, N.J., announced that it has
filed a revised plan and disclosure statement in its chapter 11 case;
the plan has been changed from the versions filed in November, according
to a newswire report. The distributor of replacement parts, supplies and
ancillary equipment to manufacturers of apparel and other sewn products
said the revised plan provides for the following treatment of creditors
and interest holders: 1) secured creditors are unimpaired; 2) holders of
Series B Notes and certain general unsecured creditors will receive a
pro rata share of 95 percent of the common stock of the reorganized
company; 3) general unsecured creditors, including trade creditors, may
elect to receive one of the following: a) for claims of $1,000 or less,
40 cents for each dollar of allowed claim, payable in cash on the
effective date of the plan; b) for larger claims, the holder may elect
one of the following: cash equal to 25 percent of the allowed claim, but
not more than a payment of $3000, or a pro rata share, together with
holders of Series B notes, of 95 percent of the common equity of the
reorganized company; and c) trade creditors may elect, instead of the
two options for general unsecured creditors, to receive 100 percent of
their allowed claims in cash paid over seven years without interest, as
long as any such trade creditor provides normal trade credit terms to
the company after it emerges from chapter 11.

Court Confirms Pre-packaged Liquidating Plan for Page America
Group

The Bankruptcy Court for the Southern District of New York
confirmed the pre-packaged liquidating chapter 11 plan for Page America
Group Inc. and its wholly-owned subsidiaries on Dec. 21, the company
announced last week. Per the plan, the company will be dissolved and
liquidated, and holders of subordinated notes, Series One preferred
stock and common stock will receive distribution of the assets. Page
America previously provided paging, messaging and information products
and services through networks it owned and operated as radio common
carriers under licenses from the Federal Communications Commission. The
New York office of Stroock & Stroock & Lavan LLP represented the
company in its filing.

Washington's Greater Southeast Hospital Finally Sold

After months of haggling, attorneys for Doctors Community
Healthcare Inc., Scottsdale, Ariz., and Greater Southeast Community
Hospital in Washington completed documents to sell the bankrupt facility
to the privately held hospital chain, The Washington Post
reported. There are no layoffs planned, so some 900 jobs are preserved,
and 100,000 residents in the District's Ward 8, which includes some of
the poorest neighborhoods in the city, will not have to travel long
distances for emergency care. If the agreement has not been reached by
Dec. 31, the hospital would not have had the cash to operate over the
holiday weekend.

Genesis Direct Sells Businesses to GE Investment Private
Placement Partners II

Genesis Direct Inc. announced last week that its ProTeam.com,
The Voyager's Collection and The Edge Company Catalog businesses will be
sold to GEInvestment Private Placement Partners II, a private equity
firm fund which was the highest bidder at a bankruptcy auction held in
the Southern District of New Jersey on Dec. 14 and Dec. 17, according to
a newswire report. The investment fund will buy the assets of
ProTeam.com and The Voyager's Collection for $7.7 million and the assets
of the Edge Company Catalog for $2.6 million, plus the assumption of
certain liabilities up to $400,000. The transactions are expected to
close this month.

Planet Hollywood to Close Beverly Hills Restaurant

Plant Hollywood International Inc. will close its high-profile
Beverly Hills restaurant near the intersection of Rodeo Drive and
Wilshire Blvd. in February as it struggles to emerge from bankruptcy,
the Associated Press reported. After the closing, the company will have
only two California restaurants: one in San Francisco and one in San
Diego. The company does expect to open other Southern California outlets
in the future. The Orlando, Fla.-based restaurant chain filed chapter 11
in October and closed nine of its 32 outlets. Planet Hollywood said
business at the Beverly Hills restaurant was hurt by city-imposed
restrictions, including bans on late-night liquor sales, live music and
tour buses.

Logan General Hospital May Be Close to End of Bankruptcy

Logan General Hospital in West Virginia may be about to emerge
from bankruptcy, according to a newswire report. A new reorganization
plan is to be filed this month. Logan General has approved an
affiliation with Genesis Health Systems, an association it hopes will
satisfy certain requirements set forth by the bankruptcy court. Logan
officials say Genesis has agreed to guarantee an $18 million loan,
which, with the support of the hospital's major creditors, will enable
the hospital to submit its reorganization plan.

New York Attorney Named Vermont Bankruptcy Judge

Attorney Colleen A. Brown of Lawrence, Werner,
Kesselring, Swartout & Brown LLP in Canandaigua, N.Y., has been
named Vermont's next bankruptcy judge, according to a newswire report.
She replaces Judge Frances Conrad, who was not
reappointed to a second 14-year term. Brown is expected to be appointed
by the U.S. Second Circuit Court of Appeals in New York following an FBI
background check.

Invitation for Public Comments re: U.S. Bankruptcy Judges in the
Ninth Circuit

The current terms of four U.S. Bankruptcy Judges for districts in the
Ninth Circuit will expire in the year 2000. The names and respective
districts and term expiration dates are shown below. The U. S. Court of
Appeals for the Ninth Circuit is considering the reappointment of these
judges to new terms of office of 14 years each, and has determined that
they appear to merit reappointment subject to consideration of comments
received from the bar and public. Upon reappointment, the judges would
continue to exercise the jurisdiction of bankruptcy judges as specified
by statute. Such duties include conducting hearings and trials, making
final determinations, and entering orders and judgements. Members of the
bar and public are invited to submit comments concerning one or more of
the judges for consideration by the Court of Appeals in determining
whether or not to reappoint them. Anonymous responses will not be
accepted. However, respondents who do not wish to have their identities
disclosed should so indicate in the response, and such requests will be
honored.

Comments for the judge(s) should be submitted no later than January
31, 2000 to the following address: Office of the Circuit Executive, P.O.
Box 193939, San Francisco, CA 94119-3939, Attn: U.S. Bankruptcy Judge(s)
Reappointment; Fax: (415) 556-6179

Two Bankruptcy Judge Positions in S.D.N.Y. Open

The Second Circuit Judicial Council invites application from highly
qualified candidates for two bankruptcy judge positions for the Southern
District of New York. The people selected will maintain chambers in New
York City at Bowling Green. The selection process will be confidential
and competitive. Applicants will be considered without regard to race
color, age (over 40), gender, religion, ethnicity, national origin or
disability. The term of office is 14 years, and the current salary is
$129,996 per annum (effective January 1, 2000). Basic qualifications
include: 1) admission to practice before the highest court of at least
one state, the District of Columbia or the Commonwealth of Puerto Rico;
2) membership in good standing in every bar in which membership is held;
and 3) at least five years of legal practice experience. Application
forms may be obtained by calling, writing or faxing a request to: Office
of the Circuit Executive, U.S. Courthouse, 40 Foley Square, Room 2904,
New York, NY 10007. Phone: (212) 857-8700; Fax (212) 857-8680.
Application packages must be received no later than Jan. 14.

Visit
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for other court position openings or to post a job listing.