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BRIEFLY

July 04, 1988

Struggling Coleco Industries Inc. has closed its Upstate New York production facilities until July 11, the Hartford Courant reported. Security guards at the plants in Amsterdam and Mayfield, N.Y., near Albany, said workers were given Friday off as a paid holiday. The guards said the plants also would be closed this week, but employees would not be paid for that time off. About 110 people work at the Coleco plants. The West Hartford, Conn.-based toy maker's ability to make this week's payroll was questioned after a New York court issued a restraining order Wednesday, freezing Coleco bank accounts in Albany at the request of Coleco suppliers who had not been paid. The company, which produces such well-known toys as Cabbage Patch Kids dolls and Scrabble board games, has been trying since January to restructure its finances. It lost $47.4 million in the quarter that ended April 2.

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