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Loewen Closes Some Offices As Part of
Reorganization
Funeral home and cemetery operator Loewen Group said yesterday that it
would close five administrative offices and move its corporate
headquarters to Toronto as part of its effort to emerge from bankruptcy
protection, according to a Reuters report. At one time a darling
of the investment community, Loewen will close its offices in
Philadelphia, Atlanta, Conroe, Texas and Whittier, California, in an
effort to streamline administrative operations. Loewen's corporate
headquarters will be moved to Toronto from the Vancouver suburb of
Burnaby, although it will maintain an administrative support facility in
Vancouver. The Cincinnati support facility will also remain open.
Loewen, North America's second largest funeral home and cemetery
operator, sought bankruptcy protection in the United States and Canada
in June 1999.
Court Approves Loehmann’s Plan of
Reorganization
Loehmann’s Inc. announced yesterday that the U.S. Bankruptcy Court
for the District of Delaware has confirmed the company’s second
amended plan of reorganization, according to a newswire report. The
approved plan, which will facilitate the Bronx, New York-based company's
formal emergence from chapter 11, is expected to become effective in
approximately two weeks. Loehmann's Inc. is a leading specialty
retailer of designer and brand name fashion apparel, accessories and
shoes.
Family Golf Wins Shorter Exclusivity Extension To Nov. 30
The U.S. Bankruptcy Court in Manhattan has granted Family Golf Centers
Inc. (FGCIQ) a shorter than requested extension of its exclusive periods
to file a reorganization plan and solicit plan acceptances. In an order
dated Aug. 31, U.S. Bankruptcy Judge Stuart Bernstein extended the
entertainment center operator's exclusive plan filing period to Nov. 30
and its vote solicitation period to Jan. 29. Family Golf had sought a
120-day extension of its plan filing period, to Dec. 30 from Sept. 1,
and vote solicitation period, to Feb. 28 from Oct. 31, saying it needed
more time to decide the structure of a 'realistic' reorganization
plan.
Courtesy of
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