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BRIEFLY

July 31, 1992|From Times Staff and Wire Reports

Carter Hawley on Track for Exit from Bankruptcy: U.S. Bankruptcy Judge Barry Russell approved Carter Hawley Hale Stores Inc.'s disclosure statement for its reorganization plan, opening the way for shareholder and creditor votes on the plan. The disclosure statement details the company's finances. "Approval of the plan will mean that we will emerge from Chapter 11 by the end of September, 19 months from the date we filed for protection," said Philip M. Hawley, the company's chairman and chief executive. If approved, the reorganization would give 75% ownership of CHH to the Zell-Chilmark Fund, which bought most of CHH's unsecured debts. Carter Hawley operates department stores under the names Broadway, Broadway Southwest and Emporium.

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