Advertisement
YOU ARE HERE: LAT HomeCollections

BRIEFLY

Retailing

July 20, 1993|From Times Staff and Wire Reports

Discount Store Chain Files Bankruptcy: Jamesway Corp. filed for protection from creditors under Chapter 11 of the federal bankruptcy laws, saying the move will give the 108-store discount chain time to restructure its operations. Joseph Ettore, president and chief executive, said in a statement that all the stores in the seven mid-Atlantic states where Jamesway operates are under review. Ettore said the recession and poor winter weather hurt the company. The Secaucus, N.J.-based firm also announced that it has obtained a $75-million line of credit from CIT Group-Business Credit to allow its continued operation during its reorganization. Jamesway listed assets of $336.1 million and liabilities of $277.0 million.

Advertisement
Los Angeles Times Articles
|
|
|