December 18, 1991 |
Andy Warhol should have said something about Los Angeles nightclubs and their 15 minutes in the spotlight. The chic China Club in Hollywood, about 1 1/2 years old, may be seeing its last days this week. General manager Dominick J.
March 14, 1991 |
Buffums, a Southern California department store chain that opened as a dry goods shop 87 years ago, announced Wednesday that it will close its doors for good at the end of May. The widely anticipated shutdown will eliminate the jobs of 1,100 full-time employees and 300 part-time workers. The company's 16 stores extend from Glendale to San Diego; its headquarters and distribution center are in Long Beach. Buffums' closing follows a long-term decline by the retailer, leading to losses of $4.
November 19, 1997 |
After spending nearly 5 years and $24 million to develop an engine technology that it promised would revolutionize the auto industry, Rosen Motors will close its doors on Friday because it couldn't persuade any major car manufacturers to buy into its vision. Launched in 1993 by Harold Rosen, a renowned aerospace engineer, and his brother Ben, a legendary venture capitalist and chairman of Compaq Computer Corp., Rosen Motors aimed to develop a turbine-flywheel powertrain for passenger cars.
January 30, 1991 |
Jurgensen's, the upscale gourmet grocery chain whose stores were a fixture in many tony neighborhoods throughout California, has closed its Beverly Hills store to concentrate its energy and capital on building a Pasadena headquarters store, company officials said Tuesday. "The sales in Pasadena have tripled in the last three years, while the Beverly Hills sales were way off what we expected," said Kenneth McCormick, chairman of Ojai Capital, the partnership that owns the Jurgensen's markets.
November 19, 1994 |
R. H. Macy & Co. went ahead Friday with plans to discontinue its financially troubled I. Magnin retail operations, despite an offer by a grandson of the chain's founder to buy the 12 remaining Magnin stores. As expected, Macy announced it will phase out the tradition-rich Magnin retailing name while converting four existing Magnin sites--including the Woodland Hills store--into different specialty stores. Liquidation sales were set for the Newport Beach store and seven other sites.
December 16, 1990 |
Ailing P-I-E International announced Saturday that it will shut down the nationwide trucking corporation within three weeks and begin liquidating assets. U.S. Bankruptcy Judge George L. Proctor approved the plan in a brief hearing after P-I-E's attorney said a weak economy and less-than-projected revenues over the last five weeks made the outlook bleak. "There was no light at the end of the tunnel," attorney Steve Busey said.
September 13, 1991 |
First Interstate Bancorp, feeling the effects of the soft California economy and a continuing slide in the state's real estate market, said Thursday that it is cutting its work force by 3,500, with as many as half of the layoffs expected in California. The layoffs are part of a companywide restructuring that will result in a $200-million loss in the third quarter. The bank will take a $90-million third-quarter charge, mostly for severance pay.
January 5, 1996 |
For sheer brashness, it's hard to top what investment broker S. Jay Goldinger did the day his horse Putting won the seventh race at Hollywood Park. Invited into the winner's circle for a celebratory photograph, Goldinger arrived bearing a "for sale" sign to hang on the horse--earning him a dressing-down from track stewards. But Goldinger was never one to let conventional notions of decorum or prudence cramp his style.
August 14, 1990 |
The last picture show of its kind folded quietly a few weeks back, but don't expect any public mourning. Oh sure, men who didn't get the word still walk up to the ticket window, only to be disappointed. And as they slink back to their cars, they don't want to give their names, don't want their pictures taken, don't want to rhapsodize over memorable films they watched in darkness.
October 15, 1991 |
Lawry's California Center, a Los Angeles attraction for the past 30 years, will close on Jan. 3, yet another Southland culinary landmark to fall during the recent recession. Its cost-conscious owner, Thomas J. Lipton Co. of Englewood Cliffs, N.J., said Monday that the closure of the 17-acre site northeast of Dodger Stadium is part of a companywide consolidation.