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   T R O U B L E D   C O M P A N Y   R E P O R T E R

     Wednesday , December 24,  1997, Vol. 1, No. 86
                      
                      Headlines

ALPHASTAR: Champion Holding Plans Early 1998 Relaunch
BIG RIVERS: Order Approving Employment of Counsel
BRADLEES: Committee Asks for Confidential Filing
CAJUN ELECTRIC: River Bend Interest Transferred to Entergy               
COBRA INDUSTIES: Plan of Liquidation

ERD WASTE: Application for More Post Petition Financing
ERD WASTE: Taps Karp and Sommers
FRETTER: Court Approves Sale of Real Property
GROSSMAN'S: Emerges From Chapter 11 and Announces New Board
INTERLINE-RESOURCES: Settlement Agreement and Release      

LAMONTS: Court OKs Reorganization Plan                         
MAIDENFORM:  Request to Satisfy Reclamation Claims
MEDNET: Committee Opposes Extension of Exclusive Periods
MIDCOM: Committee Objects to Buy-Sell Deal With Frontier
MONTGOMERY WARD: Debtors Respond to Monogram/MWCC

POCKET: Committee Objects to Extension of Exclusivity
SA TELECOMMUNICATIONS: Committee Retains Saul,Ewing
THE WIZ: Its Financial Statistics
VITALE ENTERPRISES: Walfield Seeks to Protect Property
WESTMORELAND COAL: Pension Trust Claims Attorney Conflict

                         --------

ALPHASTAR: Champion Holding Plans Early 1998 Relaunch
-----------------------------------------------------
Consumer Electronics reported on December 22, 1997 that                        
Champion Holding purchased all assets of AlphaStar TV
Network and Tee-Comm Distribution out of bankruptcy for $72
million with a goal of relaunching satellite service in
first quarter. Champion Pres. Mahmoud Wahba said that the
company is already in talks with Loral SpaceComm and others
to lease transponders. The Greenwich, Conn.-based company
has rehired 30 employees and will add 30 more in the
next few weeks, primarily in technical support and
operations.

The first target for service will be 51,000 consumers who
subscribed to AlphaStar before it went dark last summer
(TVD Aug 11 p14). "We've had a very good initial response
from AlphaStar users," he said. In addition to existing
boxes, sourced from Samsung and Tee-Comm Electronics --
AlphaStar's former parent company now in bankruptcy --
Wahba said the company is in talks with other hardware
manufacturers. While stressing that Champion purchased
AlphaStar assets, not liabilities, and therefore has no
legal obligation to subscribers, Wahba said the company is
looking into inducements to lure former users back.

Wahba said the company will continue to use an Oxford,
Conn., uplink facility, which he described as one of top
dozen in world in terms of capacity. "It can receive from
European satellites as well as U.S.," he said. "It allows
us to play to ethnic groups" and other niche markets. Also
raised was the possibility of moving American programming
to Europe through partnerships, but Wahba quickly added it
was too early to speculate on who partners would be or on
the timing of the project: "We can be truly a Eurolink and
a gateway between the U.S. and Europe and extend coverage
to the Middle East and North Africa."

In addition to TV service, the company is looking to launch
AlphaStar PC Webcasting to provide video, audio, text and
data transmissions to PCs. Also planned is Champion Private
Network and Teleport to transport signals for private
network, business-to-business, distance learning, special
events, other applications.


BIG RIVERS: Order Approving Employment of Counsel
-------------------------------------------------
Judge J. Wendell Roberts has approved the application
of Big Rivers Electric Corporation to employ Jeffrey M.
Sanders as Environmental Counsel for the debtor.


BRADLEES: Committee Asks for Confidential Filing
------------------------------------------------
The Official Committee of Unsecured Creditors of Bradlees
Stores, Inc. and its affiliates made a motion seeking entry
of an order authorizing and requiring certain confidential
information relating to the Committee's forthcoming
Confidential Application to be filed with the Court under
seal. By the Confidential Application, the Committee seeks
an Order for the limited purpose described in the
Confidential Application.

By this Motion, the Committee requests that the Court
authorize the Committee to file the Confidential
Application under seal.  The Confidential Application is
predicated upon, and describes in detail, confidential
business/commercial information of the Debtors.  The
Confidential Information contained in the Confidential
Application was provided to the Committee by the Debtors in
confidence and the Committee believes that if the
information in the Confidential Application, and the nature
of the Confidential Application is disclosed, it may
adversely effect the estates.

The Debtors have stated their view that such publication of
the confidential information will have a significant
adverse affect upon the Company and its business
operations.  Therefore, the Committee respectfully seeks
the entry of an Order (annexed hereto as Exhibit "B")
authorizing and directing that the Confidential Application
be filed under seal with the Clerk of the Bankruptcy Court.  
The Debtors have indicated that they support the entry of
the Order.  

The Committee respectfully submits that the Confidential
Application is predicated upon "confidential commercial
information" inasmuch as such material relates to the
Debtors' business operations, is not otherwise publicly
available, is sensitive in nature and will impact the
markets for the buying and selling of claims, thereby
adversely affecting plan negotiations.  The Committee
believes that if such information were to become public,
Bradlees' business and its competitive position in the
retail industry would be compromised to the detriment of
the Debtors, their estates and creditors.  

The Debtors have been provided with a copy of the
Confidential Application and agree that public disclosure
of the confidential business/commercial information in the
Confidential Application could adversely affect the
Debtors' business. Accordingly, the Committee respectfully
submits that the filing of such Confidential Application
under seal is necessary and appropriate.

Further, the Committee also requests that responses or
objections filed in opposition to, and replies filed in
support of the Confidential Application, if any, will
necessarily contain confidential information and should
also be filed under seal.  


CAJUN ELECTRIC: River Bend Interest Transferred to Entergy
----------------------------------------------------------               
The Entergy Gulf States subsidiary of Entergy Corporation
(NYSE: ETR) acquired ownership of the 30 percent
share of the River Bend generating station formerly owned
by Cajun Electric Power Cooperative, Inc.  This transaction
was part of a larger agreement ending a series of disputes
between Entergy Gulf States and Cajun that has been the
subject of litigation over the past eight years.

Entergy Gulf States received title to Cajun's 30 percent
undivided interest in River Bend from Cajun's trustee in
bankruptcy at the direction of the Rural Utilities Service
(RUS), formerly the Rural Electrification Administration,
the major secured creditor in Cajun's ongoing bankruptcy
proceeding.  RUS directed the transfer of the ownership
interest to Entergy Gulf States, under provisions
of the settlement agreement and at no cash outlay, after an
unsuccessful attempt to sell that portion of the plant to a
new owner.  The Cajun trustee is also a party to the
agreement.

In connection with the transfer, Cajun will fund a $132
million trust account for River Bend nuclear
decommissioning costs related to the 30 percent
interest.  Entergy, the RUS and the Cajun bankruptcy
trustee originally entered into the settlement agreement in
May 1996.  It provided that Entergy Gulf States
would take ownership of Cajun's undivided interest in River
Bend if no buyer could be found and if the RUS did not wish
to obtain title for itself. The settlement was approved in
federal district court in August 1996.

In accordance with the settlement, all litigation and
claims filed by Cajun and Entergy against one another have
been ended.  "Concluding the River Bend chapter of the
Cajun bankruptcy facilitates the completion of the
remaining elements of the Chapter 11 case," said Ralph R.
Mabey, the trustee in the Cajun bankruptcy case.  "Cajun's
reorganization depends now upon which competing bidder
receives Cajun's remaining, non-nuclear assets and its
customer base.  This will be determined by negotiation
or rulings by the court."

"Entergy agreed to this settlement because it was an
acceptable and practical means of resolving complex and
difficult issues," said Michael G. Thompson, senior vice
president and general counsel of Entergy.  "It enabled
all parties to avoid the continuation of protracted and
expensive litigation."  In addition, Entergy received from
the trustee a small section of Cajun-owned electric
transmission lines that were located between segments of
Entergy transmission lines, thereby providing uninterrupted
ownership to Entergy in certain areas.  With the closing,
Cajun also now qualifies to receive the lower transmission
rate offered through Entergy's open access tariff.

Also, Entergy will have returned to it the funds which it
has paid over the past three years into a court-
administered escrow account in connection with
disputes between Cajun and Entergy Gulf States.  The amount
in this account is approximately $102 million.  The court
account will be closed and future payments will be made to
Cajun in accordance with the Joint Operating Agreement
between Entergy and Cajun for their respective shares of
the Big Cajun II, Unit 3 coal plant.

The remaining 70 percent interest in River Bend is already
owned by Entergy Gulf States, which was an original owner
of the plant under the subsidiary's former corporate name,
Gulf States Utilities.  The Entergy Operations, Inc.,
subsidiary of Entergy Corporation operates the 936-megawatt
unit, located in St. Francisville, La., north of Baton
Rouge.  Entergy Gulf States' new share of River Bend will
not increase the company's retail rates for its
approximately 600,000 customers in South Louisiana and
Southeast Texas.


COBRA INDUSTIES: Plan of Liquidation
------------------------------------
Treatment of claims and interests of holders of claims
are summarized as follows:

Class 1. Administrative Claims - Holders of an allowed
administrative claim will be paid by the Liquidating
Trustee as soon as practicable after the Effective Date.  
They will be paid a pro rata distribution from Available
Cash available after the payment or allocation of available
cash for the Congress First Payment, the BNYFC
payment, other secured creditor payment, if any, plan
confirmation expenses and fee claim amount, unless
otherwise agreed to by the Liquidating Trustee.
Thereafter, unless paid in full, a pro rata distribution
of the Congress Recovery Percentage, and , after
satisfaction in full of the Class 4 claim, the BNYFC
Recovery percentage.

Class 2. Priority claims including the Elkhart priority
claim. Treated as Class 1.

Class 3. On the Confirmation Date, the Class 3 Secured
Claim of Congress will be allowed in the amount of $2.2
million or such other amount as may be agreed among the
parties.  The Allowed Class 3 Secured Claim of Congress is
impaired by the plan.

On the Confirmation Date, the debtor shall pay to Congress
the first payment of $150,000 and on or after the
Confirmation Date, the Liquidating Trustee shall pay to
Congress the Congress Avoidance Recovery Payment($50,000).  
On or after the Confirmation Date, but subject to the
BNYFC payment having been paid in full to BNYFC, the
Liquidating Trustee shall distribute, for the benefit of
Congress, the Congress Recovery Percentage, for payment of
allowed claims and interests in the following order, until
the claims in each such class have been paid in full:
Class 1, Class 2, Class 6, and Class 4.

Class 4. On the Confirmation Date, the Class 4 Secured
Claim of BNYFC will be Allowed in the amount of
$4,077,488.  The Allowed Class 4 Secured Claim of BNYFC is
impaired by the plan.  Subject to the occurrence of the
The Liquidating Trustee will pay to BNYFC on the Effective
Date:
The BNYFC payment, $754,000, but after payment of or
reserve for the Congress First Payment, Other Secured
Creditor Payment, if any, Plan Confirmation Expenses, and
Fee Claim Amount, the sum of $350,000 less the Fee Claim
Amount and the sum of $50,000 less the plan Confirmation
Expenses.  After the BNYFC payment has been paid in full,
the BNYFC Recovery Percentage and after the BNYFC Payment
has been paid in full, all liquidating Trust Assets
remaining after the satisfaction of all Allowed Claims in
Classes 1,2,3,5 and 6.

Class 5. Other secured claims.  Allowed Class 5 claims are
not impaired by the plan. Holders will receive either the
property against which the holder has a lien which shall
be returned on the Effective Date or to the extent that
the allowed secured Class 5 claim is found to be secured
by a valid, binding and enforceable lien against the
debtor's assets senior in priority to the liens of
Congress and BNYFC, the Liquidating Trustee shall pay from
available cash the amount of the claim to the extent of the
value of such assets secured by the claim.

Class 6. Unsecured Claims.  Each holder of an allowed
Class 6 claim shall receive a pro rata distribution from
the liquidating trustee of the following: (1) available
cash remaining after fully satisfying the allowed claims
in classes 1,2,3,4, and 5; (2) The Congress Recovery
Percentage after fully satisfying the Allowed Class 1 and 2
claims and the BNYFC payment. (3) The BNYFC recovery
percentage after fully satisfying the allowed Class 1,2 and
4 claims. (4)At such time as the last disputed claim in
Classes 1,2 and 5 are resolved, the liquidating trustee
shall deliver to each holder of an allowed claim in Class 6
such additional amount, if any, to which the holder
is entitled under the plan.

Class 7. Interests.  No distribution.  Upon the Effective
Date, all interests shall be cancelled and extinguished.


ERD WASTE: Application for More Post Petition Financing
-------------------------------------------------------
On December 19, 1997, the debtors, ERD Waste Corp. et al.
will seek a court order authorizing the debtors to obtain
post-petition financing from the Chase Manhattan Bank, up
to a maximum of $260,000. As of the Petition Date, the
Bank's claims with interest and late charges, total
approximately $12.25 million.  

The debtors have not been able to pay down the post-
petition advance balance as required by the terms of the
DIP facility primarily because collections have fallen
substantially below the projected levels.  As of the date
hereof, the post-petition advance balance remains at
$655,000.

The debtors do not have enough funds to meet their bi-
weekly payroll in the approximate amount of $260,000.


ERD WASTE: Taps Karp and Sommers
--------------------------------
ERD Waste Corp. et al. is requesting that the court
authorize the employment of Karp and Sommers as special
corporate and litigation counsel. Prior to filing the
chapter 11 petitions in this case, Karp and Sommers
maintained the debtors' compliance with the numerous
regulations and filing requirements of the SEC, the
transfer of the debtors' shares, resolving litigation
matters and other issues related to general corporate
representation.  The debtors also seek to retain Karp and
Sommers on a contingency basis to represent the debtors in
two separate law suits which were commenced by the debtors
in the US District Court for the Eastern District of New
York.

Karp and Sommers would be compensated at its normal hourly
rates for the corporate services to be rendered.


FRETTER: Court Approves Sale of Real Property
---------------------------------------------
The Bankruptcy Court for the northern district of Ohio,
eastern division has entered an order approving the sale by
debtor, Fretter, Inc. for certain real property, two store
locations, located in Indianapolis, Indiana.  Both sales
are to Crane Partners LLC.  One property (Store #25)
is for a purchase price of $405,000.  In the event the
transaction fails to close, the property will be sold to
Jesse James for a purchase price of $380,000.

The other property known as store #24 is for a purchase
price of $1.75 million.  In the event that the transaction
fails the store will be sold to Mayhoff Partners, LLP for a
purchase price of $1.7 million.


GROSSMAN'S: Emerges From Chapter 11 and Announces New Board
-----------------------------------------------------------
On December 22, 1997 Grossman's Inc. announced that its
Joint Chapter 11 Plan of Reorganization with JELD-WEN, inc.
has gone effective.  In accordance with the Plan,
Grossman's seven member board of directors has been
reconstituted effective December 22, 1997.  Three members
of the previous board, Richard Wendt, Theodore Schnormeier
and Larry Wetter, remain on the board.  The four additional
directors are Donald Scheffler, Donald W. Lindstat, James
V. McTevia and Thomas Ford.  Ford has been elected
president and chief executive officer of reorganized
Grossman's.

As previously reported, the United States Bankruptcy Court
for the District of Delaware confirmed the Plan on Dec. 9,
1997.  JELD-WEN, Inc., the co-sponsor of the Plan, is
making a fund of $8.65 million available for distribution
to unsecured creditors of Grossman's.  Unsecured creditor
claims of $25,000 or less will receive 23 cents on the
dollar.  Qualified unsecured creditor claims in excess of
$25,000 will receive their pro rata share of an "unsecured
recovery pool" and 50 percent of the common stock in
reorganized Grossman's.  On Dec. 17, 1997, the Bankruptcy
Court authorized Grossman's to make an initial
11 cent distribution from the unsecured recovery pool to
such qualified unsecured creditors.  Subsequent
distributions may be made from the unsecured recovery pool
based upon claims processing results.  In addition, old
equity in the pre-bankruptcy Grossman's is being cancelled
under the Plan.

Grossman's Inc. operates 15 stores under the name
Contractors' Warehouse in California, Indiana, Kentucky and
Ohio, and 29 stores under the name Mr. 2nd's Bargain Outlet
in Massachusetts, New York and Rhode Island.


INTERLINE-RESOURCES: Settlement Agreement and Release
------------------------------------------------------
Interline Resources Corp. announced that it has entered
into a Settlement Agreement and Mutual Release (the
"Agreement") with Genesis Petroleum Inc. ("Genesis").
In connection with their relationship as joint venturers in
a used oil refinery located in Woods Cross, Utah and other
matters.  Pursuant to the Agreement, Interline and Genesis
have agreed, among other things to the following:

    1.  The litigation between them shall be terminated;

    2.  Interline shall pay Genesis the sum of $750,000;

    3.  Interline shall grant Genesis a license to operate
three additional
used oil refinery plants using the Interline used oil
refinery technology
without the payment of any royalties or other payments to
Interline;

    4.  Interline shall transfer all of its rights in the
joint venture and in
the Woods Cross used oil refinery plant, and related
assets, to Genesis;

    5.  Interline shall have limited access right to the
Woods Cross refinery;

    
    6.  Genesis shall transfer to Interline 100,000 shares
of Interline common
stock owned by Genesis;

    
    7.  All previous agreements between the parties shall
be terminated; and

    8.  The parties shall indemnify each other from various
actions.

Interline is a debtor in possession in a Chapter 11
Bankruptcy proceeding and the Agreement is subject to the
approval of the United States Bankruptcy
Court.  Interline is continuing with efforts to develop a
Plan of Reorganization with the intent of paying all of its
creditors and maximizing shareholder interest in the
company.  As a debtor in possession, Interline continues
with marketing efforts for its used oil refinery technology
and continues to operate its oil and gas division in
Wyoming.


LAMONTS: Court OKs Reorganization Plan
--------------------------------------
The Columbian reported on December 19, 1997 that                             
Lamonts Apparel, which operates 38 family-apparel
stores in five western states, has received approval from a
judge to emerge from bankruptcy protection.
The Kirkland-based chain said it would come out of Chapter
11 bankruptcy protection Jan. 31, capping a three-year
financial turnaround.

U.S. Bankruptcy Court Judge Thomas Glover on Thursday
confirmed the company's reorganization plan, which details
how Lamonts will restructure its debt. The company will
exit with $42 million of financing under the terms of its
existing agreement with BankBoston.  Lamonts filed for
protection from creditors under Chapter 11 of the U.S.
Bankruptcy Code on Jan. 6, 1995, after several years of net
losses.  Lamonts closed a number of unprofitable stores,
dropping its store count from 57 to 38, as part of its
reorganization plan.  Lamonts also announced a new five-
member board of directors that will assume responsibilities
once the company emerges from Chapter 11.


MAIDENFORM:  Request to Satisfy Reclamation Claims
--------------------------------------------------
Maidenform Worldwide, Inc., Maidenform, Inc., and NCC
industries, inc., as debtors seek an order authorizing
them to partially satisfy allowed reclamation claims for
merchandise delivered on or shortly before the commencement
date.  Since the Commencement date, the debtors have
received 21 reclamation claims totaling $1,009,322.03.  
The debtors have concluded that only $554,204.69 of those
claims are valid and enforceable.  The debtors propose to
pay 50 percent of the vaild reclamation claims in equal
monthly installments over 12 months from the date of the
order.  However, the entitlement to such monthly payments
to each seller will be contingent upon that Seller
agreeing in writing to continue to provide the debtors
with at least 30 days purchase credit terms in amounts to
be agreed upon with each seller throughout the 12 month
payment period.  Sellers also will be required to agree
that the remaining 50% of the allowed reclamation claims
will be general unsecured claims.

The debtors believe that the reclamation program will
permit the debtors to maintain valuable credit support
from vendors currently in the range of $4 to 5 million -
thereby reducing the amount the debtors otherwise would
have to borrow under their postpetition lending
facility, and reducing the concomitant administrative costs
related to interest expense.  Also the debtors believe
that the reclamation program will significantly contribute
to the debtors' rehabilitation efforts, since it will
permit the resolution of the reclamation claims made by
some of the debtors' most important vendors without the
need for expensive litigation.



MEDNET: Committee Opposes Extension of Exclusive Periods
----------------------------------------------------------
The Official Committee of Creditors holding Unsecured
Claims filed its opposition to the application of
Mednet, MPC Corporation, Medi-Mail, Inc., and Medi-Claims,
Inc., debtors, for an extension to the exclusive periods
of time to file a plan and solicit acceptances thereof.  
The committee believes that the facts underlying the case
do not justify an extension.  The Committee states that
the prospective plan is really Bergen Brunswick Drug
Company's plan, under which it will acquire the debtor.  
Thus it is Bergen who is really enjoying the exclusivity
period.

The Committee maintains what it believes is a healthy
skepticism about the Bergen plan and believes that a
"joint" exclusivity extension is entirely appropriate.  
The Committee states that no cause for the extension exists
in this case because the dynamics of this case are so
simple.  The Committee states that the debtor has been
reduced to a single operation, MediMail, which continues
to lose money.  The only readily apparent exit strategy is
a sale.  From the inception of the case, Bergen has been
the debtor's only sponsor.  Furthermore, the Committee
argues that the refusal by this court to extend the
exclusivity period will in no way affect the debtor's
ability to negotiate with Bergen and the Committee.


MIDCOM: Committee Objects to Buy-Sell Deal With Frontier
--------------------------------------------------------
The Official Unsecured Creditors' Committee of Midcom
Communications, Inc. objects to Frontier Corporation's
motion to compel Midcom Communications, Inc., debtor, to
enter into reciprocal buy-sell arrangements. The
Committee states that allowing Frontier to convert its
prepetition agreement into a post petition agreement is
likely, under the facts of the case, to give Frontier a
large administrative priority claim that could unjustly
consume most of the funds available to other unsecured
creditors in Midcom's bankruptcy case.  The Committee
characterizes the motion of Frontier as an attempt to gain
priority over all other unsecured creditors of Midcom by
characterizing a claim arising out of prepetition
litigation as a postpetition contract.   

The Committee states that it is premature, and impossible
for Midcom to decide to assume or reject the Arrangements
at this juncture of the bankruptcy case.  Until the time
of the hearing on the sale of the assets, the debtor will
be unable to determine whether assumption is in the best
interests of the estate.  The arrangement that Frontier is
attempting to enforce would guarantee Frontier a minimum
of $13.5 million in traffic per year, or an aggregate
obligation of over $40 million.  Frontier would in turn be
obligated to send Midcom an aggregate of $20.25 million
in traffic over the same three year period.

The Committee claims that if Midcom is bound by the
arrangement with Frontier, then they are executory
contracts that should be rejected.  If the arrangement is
not an executory contract, then it is nothing more than a
prepetition unsecured claim arising out of prepetition
litigation.


MONTGOMERY WARD: Credit Card Problems
-------------------------------------
The debtors, Montgomery Ward Holding Corp., et al,
responded to the motion of Monogram/MWCC to compel
assumption or rejection of credit card agreements or
relief from the stay with respect to the agreements.  A
hearing will be held on the matter on January 8, 1998.  
Pursuant to the response, the debtors seek court approval
of an interim agreement with respect to the continued
performance of the contracts that comprise the debtors'
proprietary charge card agreements between the debtors and
Monogram Credit Card Bank of Georgia and Montgomery Ward
Credit Corporation.

The debtors propose an interim agreement, that provides for
the credit cards to remain in effect. Ward proposes that it
will pay its estimated ongoing net loss sharing obligation
(other than prepetition loss-sharing debt) monthly, in
cash.  The total estimated amount of Interim Payments to be
paid through December 31, 1998 is approximately $60
million.  The debtors propose that the interim arrangement
last until the consummation of a plan of reorganization.    
If the debtors reject the credit card agreements, upon such
rejection, Monogram/MWCC shall have an administrative
claim with some limitations.


POCKET: Committee Objects to Extension  of Exclusivity
------------------------------------------------------
The Official Committee of Unsecured Creditors of Pocket
Communication, Inc., claims that it is cautiously
optimistic that a consensual restructuring is possible in a
relatively short period of time.  The Committee believes
that the negotiations toward a fully consensual plan may
progress more quickly and productively if no single party
in interest has the ability to forestall the efforts of
other parties in interest to propose a plan.  The
Committee and its constituency want the ability to propose
a plan that is acceptable to the Committee but may be
unacceptable to the debtors.


SA TELECOMMUNICATIONS: Committee Employs Saul, Ewing
-----------------------------------------------------
The Official Committee of Unsecured Creditors of SA
Telecommunications, Inc., et al., is seeking authority of
the court to retain and employ Saul, Ewing, Remick & Saul
LLP as local counsel for the Committee in these cases.  In
addition to Saul, Ewing, by separate application, the
Committee is seeking authority to retain the law firm of
Kelley Drye & Warren LLP as its primary counsel. The firms
have discussed a division of responsibilities.


THE WIZ: Its Financial Statistics
----------------------------------
The Consumer Multimedia Report, published by Warren
Publishing, Inc. reported on December 22, 1997 that The   
Wiz last week filed for bankruptcy in N.Y.C., listing
$318.1 million assets, $354.4 liabilities. The retailer
said it would close 17 stores in Conn., N.Y. and N.J.,
shrinking chain to 32 stores. It listed $227 million in
unsecured debt, $171 million in secured debt. Its top 5
unsecured creditors: (1) Sony, $17.6 million. (2) LG
Electronics, $8.6 million. (3) Mitsubishi, $7.8 million.
(4) Sanyo, $7.1 million. (5) Independent Dealer Services,
$6.4 million. Secured creditors include Congress Financial
at $142 million and Paragon Capital at $19.6 million. Wiz
restructured in July, closing 5 stores in Conn. and Mass.
and obtaining $200-million credit agreement with Congress
Financial. It had projected a 4% decline in same-store
sales through year-end.


VITALE ENTERPRISES: Walfield Seeks to Protect Property
------------------------------------------------------
Walfield Realty Co., LLC approved certain construction on
the property that was subleased to Vitale Enterprises,
Inc., debtor.  $1 million was put in an escrow account with
Anthony Arturi, Esq.  Numerous defaults under the lease
occurred due to the placement of construction liens against
the property, notices from the building inspector and
abandonemt of the property.  Construction terminated and
the current state of the building creates safety and
structural issues.  It is open to the elements and the
failure of the sprinkler sytsem could jeopardize the
insurance.  Walfield is seeking court authority to use the
money in escrow to cure the defaults of Vitale, pay lien
holders  and to secure the building.


WESTMORELAND COAL: Pension Trust Claims Attorney Conflict
---------------------------------------------------------
The UMWA 1974 Pension Trust joins in the objection made by
the UMWA 1992 Benefit Plan and the Combined Benefit Fund.  
The 1974 plan emphasizes that Milliman & Roberts employs
Gerald Cole, former General Counsel of the 1974 Pension
Trust.  As counsel to the 1974 plan, Cole consulted
with, represented, and advised the 1974 plan concerning
procedures for determining and quantifying withdrawal
liability.  

The UMWA Pension Trust states that although Cole's
employment ended nine years ago, these issues are
pertinent to matters of this case and are encompassed in
the scope of Milliman's proposed duties.  There is an
actual conflict of interest between Westmoreland and the
1974 Pension Trust which the 1974 Pension Trust is
unwilling to waive.  Moreover, Milliman's employment in
the view of the UMWA 1974 Pension Trust would raise the
appearance of impropriety.

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guaranteed.   
  
The TCR subscription rate is $575 for six months   
delivered via e-mail.  Additional e-mail subscriptions for   
members of the same firm for the term of the initial   
subscription or balance thereof are $25 each.  For   
subscription information, contact Christopher Beard at   
301/951-6400.  
       
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