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Hillsborough Holdings

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BUSINESS
December 21, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Marking a new travail for top buyout firm Kohlberg Kravis Roberts & Co., Hillsborough Holdings said Wednesday that it may be forced into bankruptcy court if can't soon renegotiate its $624 million in junk bond debt. Hillsborough--a building materials company called Jim Walter Corp. until it was bought by KKR two years ago for $2.
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BUSINESS
January 9, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four days before the start of the new decade, a court clerk in Tampa, Fla., stamped and filed a foot-thick batch of bankruptcy petitions from a local building materials and resources company, and a chapter in business history quietly ended. The company was Hillsborough Holdings, and its bankruptcy pleading Dec. 27 signaled the end of the era in which its owners, the great buyout firm of Kohlberg Kravis Roberts & Co., stood as a symbol of invincibility for all the financial world.
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BUSINESS
January 9, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four days before the start of the new decade, a court clerk in Tampa, Fla., stamped and filed a foot-thick batch of bankruptcy petitions from a local building materials and resources company, and a chapter in business history quietly ended. The company was Hillsborough Holdings, and its bankruptcy pleading Dec. 27 signaled the end of the era in which its owners, the great buyout firm of Kohlberg Kravis Roberts & Co., stood as a symbol of invincibility for all the financial world.
BUSINESS
December 21, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Marking a new travail for top buyout firm Kohlberg Kravis Roberts & Co., Hillsborough Holdings said Wednesday that it may be forced into bankruptcy court if can't soon renegotiate its $624 million in junk bond debt. Hillsborough--a building materials company called Jim Walter Corp. until it was bought by KKR two years ago for $2.
BUSINESS
December 28, 1989 | From Associated Press
A company owned by leveraged buyout specialists filed for Chapter 11 bankruptcy protection Wednesday after bondholders rejected a restructuring plan. Hillsborough Holdings Corp.'s filing in U.S. Bankruptcy Court in Tampa marks the first Kohlberg Kravis private holding to seek bankruptcy protection, and was closely watched in the junk-bond market that has financed such costly takeovers. New York-based Kohlberg Kravis formed Hillsborough last year as part of its $2.
BUSINESS
February 12, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Fred Carr was once lauded for providing his insurance company's policyholders and shareholders with heady returns through his active and savvy management of a massive pool of risky investments. But an analysis of Carr's investment portfolio reveals that he has done no better than the average junk bond buyer--which is dismal now that the junk bond market has gone into the tank. Carr, president and chief executive of First Executive Corp.
BUSINESS
April 27, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
Just when you thought the '80s were over--gone, dead, buried--look who's back, doing deals and garnering headlines. It's Kohlberg Kravis Roberts & Co., the gilded buyout firm whose $32-billion takeover of RJR Nabisco in 1989 capped off, and came to symbolize, a decade in which "greed is good" became a business mantra. This time around the script is different. The prey is smaller and, at least in the two deals KKR did this week, consists of the shattered remains of that decade of excess.
BUSINESS
October 4, 1990 | JAMES BATES, TIMES STAFF WRITER
Columbia Savings & Loan put its troubled junk bond portfolio up for sale again Wednesday amid growing signs that the maverick thrift will be among the nation's most expensive S&L failures, with some experts believing that it could cost taxpayers as much as $1.5 billion.
BUSINESS
February 6, 1990 | PAUL RICHTER, TIMES STAFF WRITER
RJR Nabisco on Monday reported 1989 earnings that showed the huge tobacco and food concern is in sounder financial shape than many analysts had suspected one year after history's largest buyout. RJR, which was taken private for $25 billion by the Kohlberg Kravis Roberts & Co. buyout firm, reported a 1989 loss of $1.15 billion on net sales of $12.76 billion.
BUSINESS
February 15, 1990 | JAMES BATES, TIMES STAFF WRITER
Beleaguered First Interstate Bancorp disclosed Wednesday that the giant investment firm of Kohlberg Kravis Roberts & Co. owns nearly 10% of its stock, including 3.5-million shares bought this week as part of a critical stock sale for the Los Angeles-based banking firm.
BUSINESS
April 3, 1990 | TOM FURLONG, TIMES STAFF WRITER
Columbia Savings & Loan, rendered insolvent by huge losses, has little chance of surviving as an independent institution but a government takeover is not imminent, thrift industry sources said Monday. Industry officials said it is unlikely that Columbia will be seized by the federal government until after regulators decide what to do with the firm's huge portfolio of junk bonds, which are risky, high-yield corporate debt securities. That process could take several weeks or even months.
BUSINESS
January 14, 1988 | DENISE GELLENE, Times Staff Writer
B.A.T. Industries, the giant British tobacco conglomerate that owns Marshall Field and Saks Fifth Avenue among other U.S. companies, Wednesday offered $4.2 billion for Farmers Group, a major fire and casualty insurer in California and the West. The offer by B.A.T. (originally British-American Tobacco) is the most dramatic evidence yet that U.S. firms are now seen as a bargain by foreign companies, because of the precipitous drop in the dollar's value.
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