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Status of Large Retail Bankruptcy Cases With AM-Macy Bjt

January 27, 1992

Undated (AP) _ These are the largest U.S. retailers currently undergoing bankruptcy reorganization and the status of their cases: Federated Department Stores Inc.

Owner of Bloomingdale’s and Abraham & Straus, current operator of 140 stores, it was unable to make interest payments after being bought by Campeau Corp. for $6.6 billion in 1988. Filed for Chapter 11 in January 1990 along with Allied Stores Corp., expected to emerge in mid-February. Allied Stores Corp.

Currently operating 82 stores, including The Bon Marche and Stern’s, it was unable to make interest payments after being bought by Campeau Corp. for $3.4 billion in 1986. Filed for Chapter 11 in January 1990 along with Federated, expected to emerge in mid-February. Will merge with Federated. Carter Hawley Hale Stores Corp.

Located in the western United States, currently operating 88 stores, including Broadway and Emporium stores, it was unable to make payments on debt from 1987 restructuring undertaken to fend off takeover bid by Limited Inc. Filed for Chapter 11 in February 1991. Time of emergence from Chapter 11 unknown. Ames Department Stores Inc.

The chain, which currently operates 371 stores in 15 states, was unable to handle debt after buying the Zayre discount store chain for $788 million in 1988. Filed for Chapter 11 in April 1990. Hopes to emerge from Chapter 11 in 1992. Hills Department Stores Inc.

The chain, currently operating 154 stores in 12 states, was unable to handle remaining debt from $637 million leveraged buyout in 1985. Filed for Chapter 11 in February 1991. Time of emergence from Chapter 11 unknown. Revco D.S. Inc.

The 1,141-unit drugstore chain, currently operating in 10 states, was unable to make interest payments on debt from $1.25 billion leveraged buyout in 1986. Filed for Chapter 11 in July 1988. Time of emergence from Chapter 11 unknown. Creditors have failed to approve a reorganization plan. Rival drugstore retailer Jack Eckerd Corp. has offered to buy Revco for $925 million. P.A. Bergner & Co.

The operator of 69 Midwestern department stores, including Bergner’s and Carson Pirie Scott, it filed for Chapter 11 in August 1991 when it was unable to handle $1.27 billion in liabilities, including the debt from the $453 million purchase of Carson Pirie Scott in 1989. The time of emergence is unclear.

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