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Yes Entertainment Seeks Chapter 11 Protection

February 10, 1999|Bloomberg News

Yes Entertainment Corp., which makes toys and children's electronic products, filed for Chapter 11 bankruptcy protection from its creditors amid slumping sales and cash-flow problems. The Pleasanton, Calif.-based company listed $18.6 million in assets and $19.6 million in liabilities in its petition, filed in U.S. Bankruptcy Court in Wilmington, Del. Among the company's largest unsecured creditors listed by Chief Executive Mark Shepherd are Machina Inc. of San Francisco, owed $2.21 million, and King Features of New York, owed $795,911. Yes also said Infinity Investors Ltd. will provide up to $20 million in working capital, subject to court approval.

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