Bankruptcy News For:  June 11, 1996

  3. Globe Lighting Supply acquires assets of Seattle Lighting Fixture Co

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    SHERMAN OAKS, Calif.,  --  June 11, 1996  -- House of Fabrics,
(NYSE: HF) said today that its Bank Group, led by Bank of
America as Agent, has agreed to an extension of its debtor-in-
possession (DIP) financing facility through July 31, 1996 in the
amount of $17.3 million. The DIP will terminate on July 31, 1996,
when the Company anticipates that its Plan of Reorganization and new
credit facility with VCIT will become effective.  The Company
currently has no outstanding borrowings against the facility.  The
extension is subject to the usual formalities of Bankruptcy Court
approval and final documentation.

    Gary L. Larkins, President and Chief Executive Officer, stated
"the extension of the DIP facility provides further assurance to our
vendors that - as House of Fabrics completes the final stages of its
Chapter 11 restructuring - we have the continued ability to pay for
the orders we are currently placing for Fall and Winter merchandise.
The extended credit facility is more than adequate to provide for
all of our planned purchases and demonstrates the continued support
of our Bank Group until our Plan of Reorganization becomes

House of Fabrics filed to restructure under Chapter 11 November 2, 1994.

CONTACT:  Marvin S. Maltzman House of Fabrics, 818-385-2303


    PORTLAND, Ore., June 11, 1996  - Rentrak Corporation
(Nasdaq: RENT) today announced a net loss of $32.3 million, or $2.68
per share for the year ended March 31, 1996.  The loss from
continuing operations was $1.5 million, or $0.12 per share.  The
loss from continuing operations compares to net income of $5.4
million, or $0.42 per share in fiscal 1995.  Included in fiscal 1996
results were costs related to the divestiture of the company's Pro
Image and BlowOut Entertainment subsidiaries and other charges
totaling $37.5 million, or $3.12 per share.  About 18 percent, or
$6.7 million, of the total amount was charged against continuing
operations, most of which relates to advances to retailers and
program suppliers.  The divestiture of these entities, a portion of
which was announced on March 28, 1996, was undertaken to increase
shareholder value.

Company Reports Record Fourth Quarter and Fiscal 1996 Revenues
    For the quarter, Rentrak reported record revenues of $31.3
million, up 18 percent from $26.6 million in the fourth quarter last
year.  The increase in revenues was primarily due to an increase in
the quality of the titles offered and the increase in the number of
retailers taking advantage of Rentrak's proprietary Pay-Per-
Transaction (PPT) system. The company reported a net loss from
continuing operations of $4.5 million, or $0.37 per share in the
fourth quarter this year.  This compares to net income of $620,782,
or $0.06 per share in the fourth quarter last year.

    The company reported revenues for fiscal 1996 of $113.3 million,
up 34 percent from $84.5 million in fiscal 1995.  The increase in
revenues was due primarily to growth in the number of participating
retailers, an increase in the quality of titles offered and an
increase in the number of cassettes released through the system.  By
fiscal year-end, the number of PPT participating retailers in North
America had grown 29 percent to 4,659, up from 3,614 participating
retailers as of March 31, 1995.

    Commenting on the year, Ron Berger, Rentrak's President and
Chief Executive Officer, said, "This year represented a major
milestone for Rentrak as we announced our plans to divest our Pro
Image and BlowOut Entertainment subsidiaries so that we could
refocus all of our resources on the solid growth opportunities
represented by our core PPT business. In light of the planned
restructuring, the company is taking steps to reduce corporate
overhead.  The goal of our divestiture program is to enhance
shareholder value.

    "In March 1996, we announced that the Board had approved in
principle the spin-off of Pro Image into a separate public company
with Rentrak shareholders being issued new shares representing 100
percent ownership of Pro Image. Since then, we have been approached
by several parties interested in acquiring Pro Image, and, as a
result, recently entered into a non-binding letter of intent with a
potential purchaser. Due diligence is now being conducted.  Final
disposition of Pro Image in either a sale or spin-off is expected to
be completed by year-end.

    "In March, we also announced that the Board had approved a
review of divestiture alternatives for BlowOut Entertainment.  The
Board has since approved the spin-off of BlowOut into a public
company with Rentrak shareholders being issued shares representing
73.1 percent ownership of BlowOut.  Rentrak Corporation will retain
19.9 percent equity ownership and certain minority shareholders will
retain 7.0 percent.  BlowOut has also been and continues to work
with financial advisors in the pursuit of a potential equity and/or
debt investment in BlowOut.  These discussions could result in the
sale by Rentrak of up to 80.1 percent of BlowOut's equity.  Final
disposition of this subsidiary is also expected to be completed by
year-end.  As a result, we have reflected the operations of these
entities as discontinued for the fiscal year ended March 31, 1996,
and we have restated our financial results for prior periods to
reflect both of these operations as discontinued. Divestitures
through stock dividend and spin-off are subject to a number of
conditions, including formal declaration of a dividend by the Board
of Directors."

Year-end Results for Pro Image and BlowOut Entertainment

    For fiscal 1996, Pro Image, a chain of licensed sports apparel
stores, reported revenues of $39.l million, up 48 percent from
fiscal 1995.  Including a $9.3 million pretax one-time charge, the
division reported a net loss before taxes of $14.0 million.  In an
effort to improve operating efficiencies, the company plans to
divest or close a number of unprofitable stores, and, as a result,
has reduced corporate overhead and executive staff accordingly.  The
company continues to evaluate opportunities for further cost

    BlowOut Entertainment, a chain of video rental and sales stores,
reported a sales increase for fiscal 1996 of 1,292 percent to $17.5
million and a pre-tax net loss of $7.3 million.  During the fiscal
year, BlowOut acquired 114, opened 70 and closed 5 stores.  At March
31, 1996, there were 187 stores in the BlowOut network.

Outlook for Rentrak Home Entertainment

    "Benefiting from strong titles throughout the year, including
'While You Were Sleeping,' 'Die Hard III' and 'Crimson Tide,' our
core PPT business reported record revenues," stated Berger.  "In
addition, we continue to be the industry's fastest-growing
distribution system, increasing our active store base at a record

    "Rentrak Japan reported an increase in revenues of 31 percent to
$115.9 million with net income before taxes of $3.9 million.  This
compares to revenues of $88.4 million and a net loss of $566,353 in
fiscal 1995.  Rentrak Japan now has 1,442 active stores, up 24

    "As we look to the future, we are very excited about the solid,
long- term growth opportunities of our PPT system.  Matching this
past year's growth performance will be a challenge this fiscal year
since titles released to date have not shown the same box office
strength. Nevertheless, we believe that with our highly focused
business strategy and our solid relationships with each of our key
franchises: the movie studios, video retailers and consumers; we
believe we will be better able to increase the number of our video
titles as well as continue to aggressively expand our network of
video retailers in North America," Berger concluded.

Company Profile

    Headquartered in Portland, Oregon, Rentrak Corporation's Pay-Per-
Transaction (PPT) information and transaction processing division is
the world's largest nontraditional distributor of videocassettes.
Over 4,600 outlets throughout North America stock cassettes leased
through Rentrak's system from more than 30 suppliers. Rentrak offers
retailers using the PPT system videocassettes at an initial cost
which is a fraction of the usual distributor charge.

Forward-Looking Statements

    When used in this discussion, the words "believes,"
"anticipates," "expects" and similar expressions are intended to
identify forward-looking statements.  Such statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected.  Factors which could affect
the company's financial results are described in the company's March
31, 1995 Annual Report on Form 10-K and the company's 10-Q for the
quarter ended December 31, 1995 filed with the Securities and
Exchange Commission.  Results of operations in any past period
should not be considered indicative of the results to be expected
for future periods.

                               RENTRAK CORPORATION AND SUBSIDIARIES
                                                    BALANCE SHEETS
                                     MARCH 31, 1995 AND MARCH 31, 1996
                                                          (in thousands)

           March 31,     March 31,
          1996      1995
Current Assets:
  Cash and cash equivalents     $ 2,683       $10,709
  Investment securities available for sale       345          --
  Accounts receivable, net        15,116         14,712
  Accounts receivable, affiliate     3,227           --
  Advances to program suppliers      1,463           2,684
  Inventory            1,738            6,291
  Deferred tax asset          1,132           915
  Other current assets        3,343                    2,112
     Total current assets          29,047                  37,423
Property and equipment, net         1,466                      4,924
Intangibles, net           347        11,011
Notes receivable, net               --             3,036
Note receivable, affiliate          2,800            --
Other investments, net       3,477          2,920
Deferred tax asset           3,141            1,927
Other assets          1,225          3,577
Net Assets of Discontinued Operations   14,749           --
     Total assets                   $56,252                  $64,818

Current Liabilities:
  Line of credit                     $ 2,700        $    --
  Accounts payable        21,796        17,799
  Accrued liabilities        2,163           3,302
  Accrued compensation       1,241           2,017
  Deferred revenue           2,005           1,408
  Net liabilities of discontinued operations      11,943           --
     Total current liabilities    41,848        24,526
Stockholders' equity      14,404        40,292
Total liabilities and stockholders' equity       $56,252                 $64,818


          (in thousands, except per share data)

     Three Months Ended   Twelve Months Ended
     March 31   March 31      March 31   March 31
                  1996         1995              1996         1995

REVENUE         $31,282      $26,574        $113,266     $84,548
OPERATING COSTS AND EXPENSES       28,686        22,121            95,167       66,374
   Cost of Sales            9,093         3,992             20,860       15,527
   Selling & Administrative       37,779        26,113          116,027       81,901
OPERATIONS        (6,497)            461             (2,761)        2,647
Other Income              214             245                  681         3,522
INCOME TAXES                                         (6,283)            706             (2,080)         6,169
   Income Tax (Provision)
    Benefit                                                         1,797             (85)                 595            (768)
OPERATIONS                                             (4,486)            621              (1,485)         5,401
    Income (Loss) from Operations of
    Discontinued Subsidiaries,
    Net of Income Taxes                                (11,708)            649            (18,700)          (287)
    Loss on Disposal of
     Subsidiaries                                             (12,100)             --              (12,100)              --
NET INCOME (LOSS)               ($28,294)       $1,270          ($32,285)       $5,114
    Continuing Operations      ($0.37)          $0.06              ($0.12)         $0.43
    Discontinued Operations       (1.94)            0.04                (2.56)         (0.02)
    Total        ($2.31)          $0.10              ($2.68)         $0.41
Number of Shares Used in
Primary Earnings Per Share
Calculation     12,236         14,484              12,019        13,398
    Continuing Operations      ($0.37)          $0.06              ($0.12)          $0.42
    Discontinued Operations                             (1.94)            0.04                (2.56)           (0.02)
    Total                                                  ($2.31)         $0.10               ($2.68)           $0.40
Number of Shares Used in
Fully Diluted Earnings Per
Share Calculation      12,236        15,934              12,019           14,317

CONTACT:  Ron Berger of Rentrak Corp., 503-284-7581; or, general,
Hannah Bruce, or, analysts, Bonnie McBride, 415-986-1591, both of
The Financial Relations Board for Rentrak

Globe Lighting Supply acquires assets of Seattle Lighting Fixture Co.

SEATTLE, WA -- June 11, 1996 -- Seattle Lighting
Fixture Co.
, a leading supplier of lighting fixtures to the
homebuilder and retail markets in the Northwest was purchased by
Globe Lighting Supply of Portland, Ore.

    The sale was approved and finalized on June 10, 1996, by the
U.S. Bankruptcy Court, and the purchase was for all assets in 12
store locations in Washington, Oregon, and Idaho.  (Seattle Lighting
operates under the name of Builders Lighting in the Portland and
Boise markets.)

    Globe Lighting Supply Co. is a 36 year old family owned lighting
distributor based in Portland and operates 13 stores in Washington
and Oregon.  Globe Lighting Supply's business is very similar to
that of Seattle Lighting Fixture Co. and it will enable the
purchaser to enhance the supply of product to Seattle Lighting
Fixture Co. customers.  

    Globe has another division, Dolan Designs, a manufacturer and
importer of exclusive lighting products distributed to over 350
stores nationwide.  This product line will be sold exclusively
through their stores in the Portland and Seattle markets.

    Globe Lighting will continue to operate under the name of
Seattle Lighting Fixture Co. where appropriate, to capitalize on
this company's 75 years of outstanding service to the region.

    "This company has a fine track record of serving the home
builder and retail trades and we feel that our expertise combined
with good market conditions will make the acquisition desirable to
all involved.  We are also very pleased to offer continued
employment to almost 100 people in the Northwest," said Dan Dolan,
president of Globe Lighting Supply.

CONTACT: Globe Lighting Supply: Dan Dolan, 503/225-9009