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Seven Up Rc Bottling Co Of Southern California

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BUSINESS
September 26, 1995 | Times Staff and Wire Reports
Soft Drink Bottler Says Bankruptcy Is Averted: The Seven-Up/RC Bottling Co. of Southern California, the nation's largest Seven-Up bottler, said four creditors who are owed $2 million have agreed to withdraw an involuntary bankruptcy petition, subject to court approval. The money-losing Vernon-based bottler is attempting to restructure $140 million it owes bondholders. Merrill Lynch, Dean Witter, State Street Research and an unidentified money management firm hold 65% of the debt.
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BUSINESS
November 10, 1995 | Times Staff and Wire Reports
Bottler Gives Control to Note Holders: Seven-Up/RC Bottling Co. of Southern California said that, as part of a financial restructuring, holders of $140 million senior secured notes will surrender the debt in return for 98% of the Vernon-based bottler plus a portion of the cash proceeds from the sale of the company's Puerto Rican facility. The company, the country's largest independent Seven-Up bottler, reported a pretax loss of $11.
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BUSINESS
August 2, 1995 | Times Staff and Wire Reports
Seven-Up Suspending Interest on Debt: Seven-Up/RC Bottling Co. of Southern California Inc. said that it will suspend interest payments on $140 million of debt, citing weak earnings caused by price competition and lower sales. The interest payments on the 11.55 senior secured notes that mature in 1999 were due Tuesday. The Vernon-based company said earnings before interest, taxes and other items fell 76% to $1.6 million for the quarter ended June 30, down from $6.7 million in the year-ago period.
BUSINESS
September 16, 1995 | Times Staff and Wire Reports
Seven-Up-RC Bottling Co. of Southern California Faces Bankruptcy: Four bondholders have filed an involuntary Chapter 11 petition against the Vernon-based bottler for failing to pay $2.1 billion in notes. The company, the nation's largest bottler of Seven-Up, is burdened with debt taken on in a 1990 management-led buyout from Westinghouse. The bottler is in talks with bondholders to restructure its debt.
BUSINESS
March 4, 1997 | Times Staff and Wire Reports
Seven-Up/RC Bottling Co. of Southern California will be purchased by Dr Pepper Bottling Co. of Texas for more than $80 million in cash and assumed debt, creating the largest independent-system bottler in the U.S. The companies said the purchase price includes buying Seven-Up/RC Bottling's 5 million shares outstanding at $12 a share, an additional 1 million shares subject to the exercise of warrants and options, and assuming all of Seven-Up/RC Bottling's debt. The company had $18.
BUSINESS
May 14, 1996 | From Bloomberg Business News
Seven-Up/RC Bottling Co. of Southern California Inc. filed for Chapter 11 protection under the U.S. Bankruptcy Code, submitting a negotiated reorganization plan that would give the company to note holders. Holders of $140 million in senior secured notes due in 1999 are to receive 98% of the stock in the Vernon-based bottler and at least $73.2 million from the sale of Seven-Up/RC Bottling of Puerto Rico, which is a unit of the debtor. Under the plan, trade creditors are to be paid in full.
BUSINESS
December 7, 1992 | Researched by TOM McQUEENEY / For The Times
Name: Elizabeth La Fuente Company: Seven-Up/RC Bottling Co. of Southern California Thumbs up: "The main reason I stay in quality control is I like the thought of having the authority, of being in control of the product, ensuring the integrity of the product for consumer protection. We have so many different products--from soft drinks to wine coolers to packaged water--that you're constantly learning something new. I'd say every week we're doing something different.
BUSINESS
May 17, 1993 | PATRICK LEE, TIMES STAFF WRITER
Employers from Xerox Corp. to Atlantic Richfield Co. to Procter & Gamble are embracing the ideal of workplace diversity, the hot human resources topic of the 1990s.
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