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INDUSTRY NOTES

September 11, 1986

Hershels Deli & Bakery Inc. announced an initial public offering of 640,000 units, each consisting of two shares of common stock and one warrant to purchase an additional share.

The Riverside-based company said each of the units will be priced at $12.50.

Grey, Randolf & Abbott Ltd. of St. Louis are the underwriters.

Hershels operates eight restaurants, six of them in Southern California. Hershels' founder, chairman and chief executive officer is Harold Butler, who launched the Denny's and Naugles restaurant chains.

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