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Standard Brands Paint Co

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BUSINESS
December 14, 1995 | Times Staff and Wire Reports
Standard Brands Bankruptcy Filing Possible: The Torrance-based retailer of paint and other home-improvement products warned that it may have to file for bankruptcy protection for the second time in two years and liquidate its assets if it does not receive additional financial support from its largest stockholder, Venezuelan paint manufacturer Corimon.
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NEWS
May 13, 1998
Dan Greenberg, 97, a Los Angeles businessman who co-founded Standard Brands Paint Co. A native of Portland, Ore., Greenberg grew up in Oakland and San Francisco and moved to Los Angeles in 1922. With his brothers Joe and Ike, he owned the Western Costume Co. in Hollywood for many years, and in 1933 built the 3 G Distillery in Burbank. In 1939, Dan and Joe founded Standard Brands Paint Co., one of the first home decorating chains in the West for do-it-yourself homeowners.
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BUSINESS
May 18, 1995 | Times Staff and Wire Reports
Standard Brands Paint Deal Closes: Corimon, a Venezuelan conglomerate, said it completed a financial restructuring of the troubled Torrance-based paint maker and retailer and now owns 77% of Standard Brands Paint Co. stock. The recapitalization of Standard Brands by Corimon for $18 million sharply dilutes original shareholders' stake, reducing it to 3% in the "new" company.
BUSINESS
December 29, 1995 | EVELYN IRITANI, TIMES STAFF WRITER
After failing to engineer a bailout from its major shareholder, Standard Brands Paint Co. and two of its subsidiaries have filed for Chapter 11 bankruptcy protection for the second time in four years. The Torrance-based company--whose 50 retail stores and a paint manufacturing operation in California continue to be hit by tough competition and other woes--said Thursday that it plans to keep its doors open while it looks for buyers for some or all of its assets.
BUSINESS
May 30, 1991 | TOM PETRUNO, TIMES STAFF WRITER
Standard Brands Paint Co., the troubled Torrance-based paint retailer, said key lenders approved new loan terms that could give the firm more financial breathing room. Standard also said it reached an "accommodation" with a major shareholder who had been waging a proxy fight against management. However, the shareholder, John Latshaw of Kansas City, Mo., said in an interview that he was unsure exactly what Standard proposed in its accommodation.
NEWS
May 13, 1998
Dan Greenberg, 97, a Los Angeles businessman who co-founded Standard Brands Paint Co. A native of Portland, Ore., Greenberg grew up in Oakland and San Francisco and moved to Los Angeles in 1922. With his brothers Joe and Ike, he owned the Western Costume Co. in Hollywood for many years, and in 1933 built the 3 G Distillery in Burbank. In 1939, Dan and Joe founded Standard Brands Paint Co., one of the first home decorating chains in the West for do-it-yourself homeowners.
BUSINESS
December 14, 1995 | Times Staff and Wire Reports
Standard Brands Bankruptcy Filing Possible: The Torrance-based retailer of paint and other home-improvement products warned that it may have to file for bankruptcy protection for the second time in two years and liquidate its assets if it does not receive additional financial support from its largest stockholder, Venezuelan paint manufacturer Corimon.
BUSINESS
December 14, 1995 | PAUL H. JOHNSON, TIMES STAFF WRITER
Standard Brands Paint Co. on Wednesday warned that it may have to file for bankruptcy protection for the second time in two years and liquidate its assets if it does not receive additional financial support from its largest stockholder, Venezuelan paint manufacturer Corimon.
BUSINESS
December 13, 1995 | PAUL H. JOHNSON, TIMES STAFF WRITER
Standard Brands Paint Co., seeking to return to profitability, announced Tuesday that its chief executive of only four months has resigned and been replaced by an official from the company's parent. Arthur W. Broslat, appointed CEO in August, was replaced by Gilbert Minionis, previously vice president for international operations of Corimon, a Venezuela-based paint manufacturer and distributor that purchased a 77% stake in Torrance-based Standard Brands in May.
BUSINESS
May 18, 1995 | Times Staff and Wire Reports
Standard Brands Paint Deal Closes: Corimon, a Venezuelan conglomerate, said it completed a financial restructuring of the troubled Torrance-based paint maker and retailer and now owns 77% of Standard Brands Paint Co. stock. The recapitalization of Standard Brands by Corimon for $18 million sharply dilutes original shareholders' stake, reducing it to 3% in the "new" company.
BUSINESS
April 7, 1994 | MICHAEL PARRISH, TIMES STAFF WRITER
Efforts to keep millions of buckets of old paint out of landfills and incinerators will get a big boost today when Standard Brands Paint Co. unveils the first recycled paint to be sold through national retailers. Old paint is already routinely collected in some communities, mixed by cooperating paint companies into various shades of gray and used in low-income housing projects or to cover graffiti. But the Torrance-based firm's product for the first time lets ordinary U.S.
BUSINESS
November 3, 1993
The Standard Brands Paint & Home Decorating Center in Costa Mesa is closing in two weeks as part of a companywide campaign to prune the size of the chain. The store at 610 W. 17th Street has about 10 employees. Some may be shifted to other stores, but no decisions have been made yet, said Valerie Oberpriller, a spokeswoman for the Torrance-based chain. She said the closures are in line with a reduction program that was part of the company's bankruptcy reorganization earlier this year.
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