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October 10, 1995| Times Staff and Wire Reports

Smith Corona Gets Buyout Offers: The typewriter maker said it is reviewing the offers as part of its reorganization while in bankruptcy. None of the offers would cover all creditors' claims, it said. Officials would not say how many offers have been received or who submitted them. Facit, a Swedish company, said Friday that it had submitted one of the proposals. New Canaan, Conn.-based Smith Corona Corp. filed for bankruptcy July 5 amid a shrinking market for typewriters. Its sales dropped after its main competitor, Brother Industries Ltd., cut prices on many of its models and Smith Corona was not able to match them. In May, the company said it planned to cut 26% of its work force--about 750 jobs worldwide--for a savings of about $21 million a year.

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