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Atlantic Entertainment 'Regroups': In the wake of layoffs...

June 19, 1989

Atlantic Entertainment 'Regroups': In the wake of layoffs and missed paychecks at Atlantic Entertainment Group last week, Chief Executive Alan Saffron issued a statement saying the company "is regrouping and restructuring in order to be able to conduct the business of acquiring and distributing films more efficiently." In the past, Saffron has said he was unable to raise the capital that he promised to bring to the independent film company when he bought it last December. Two weeks ago, four of the company's top executives left, and a spokesman at the time cited Atlantic's severe financial troubles as the reason.

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