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November 28, 1991|From Times Staff and Wire Reports

Data-Design Labs Reprieved: Data-Design Laboratories Inc. of Anaheim said Wednesday that it has gotten a reprieve from its lenders until Dec. 16 on meeting the financial requirements on its loan agreements. Sanwa Bank California and Tokai Bank Ltd. agreed to give the struggling manufacturer of computer circuit boards more time to remedy its cash crunch. The company lost $19.7 million in the past five quarters. Its financial condition fell below a minimum required level in October, but the banks have not declared its $14.6 million in loans in default. The company said it will use the time to seek a long-term agreement with the banks and an infusion of capital.

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