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/raid1/www/Hosts/bankrupt/TCR_Public/981113.MBXT R O U B L E D C O M P A N Y R E P O R T E R Friday, November 13, 1998, Vol. 2, No. 223 Headlines AMERICAN RICE: Committee Objects to Jay Alix AMRESCO INC: Registration statement Modified AVATEX: Reports Third Quarter Results BARNEY'S INC: Reports Year-End Results BUTTERWINGS ENTERTAINMENT: Notice of Sale of Assets DIGICASH: Files For Bankruptcy Protection ENSEC INTERNATIONAL: Enters Merger Agreement GOLDEN BOOKS: With $18.9 M Loss Chairman Sees Progress GULF CANADA RESOURCES: Reports Third Quarter Results HUNGARIAN BROADCASTING: Notification of Late Filing INTERNATIONAL WIRELESS: Seeks To Retain KPMG Peat Marwick LESLIE FAY: Reports Improved Third Quarter Results LOUIS ALLIS: Shut Down Hits Motor-Buying Customers Hard MANHATTAN BAGEL: First In-Store Unit NU-KOTE HOLDING: Case Summary PINNACLE BRANDS: Seeks Approval of Agreement With Leaf PINNACLE MICRO: May File For Bankruptcy Protection THE CARE GROUP: Notice of Meeting of Creditors URBAN COMM: Case Summary & 20 Largest Creditors URBAN COMMUNICATORS: Case Summary & 20 Largest Creditors VAN LEUNEN'S: Hearing on Approval of Disclosure Statement WSR CORPORTION: Notice of Bar Date YES!ENTERTAINMENT: Nasdaq Planning To End Listing of Shares DLS CAPITAL PARTNERS: Bond Pricing For Week of November 9 ********* AMERICAN RICE: Committee Objects to Jay Alix -------------------------------------------- The unofficial committee of certain holders of the 13% $100 million first Mortgage Notes Due 2002 with contingent interest, issued by American Rice, Inc., debtor, and US Trust Company of Texas, NA as indenture Trustee agree with the US Trustee's objection. Furthermore the committee and the indenture Trustee state that the engagement of Jay Alix & Associates is entirely unnecessary and would needlessly squander estate assets. They believe that the debtor seeks to employ Jay Alix solely because the debtor's working capital lenders have conditioned the continued provision poof post-petition financing on the hiring of a "crisis manager." The debtor does not require an additional financial advisor, and if the Bank Group wishes to monitor the debtor's financial operations, it should pay for such a service. Further if the debtor needs a financial officer, it should employ a suitable individual and not a firm of the size of Jay Alix. AMRESCO INC: Registration statement Modified -------------------------------------------- Amresco Inc. reports to the SEC on Form S-8; the Registration Statement being filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended, covers an additional 500,000 shares of common stock, par value $0.05 per share, that may be offered and sold to the employees of the Company pursuant to the AMRESCO, INC. 1995 Employee Stock Purchase Plan. AVATEX: Reports Third Quarter Results ------------------------------------- Avatex Corporation (NYSE: AAV) today announced financial results for the second quarter and the first six months of fiscal 1999 ending September 30, 1998. Second Quarter - Avatex reported revenues for the second quarter of $2.4 million compared to $3.7 million for the corresponding period of the previous year. The decrease was due primarily to the sale of one of the Company's real estate partnership interests during the fourth quarter of fiscal 1998. After preferred stock dividends of $7.0 million, the Company recorded a net loss to common shareholders of $9.7 million, or $0.71 per share, compared to a net loss to common shareholders of $7.9 million, or $0.57 per share, in the previous year. Avatex reported revenues for the six months ended September 30, 1998 of $4.9 million compared to $6.8 million for the corresponding period of the previous year. The Company reported an operating loss of $2.7 million compared to an operating loss of $32.6 million a year ago. Current year operating income was adversely affected by costs associated with the Company's announced restructuring. The prior year operating results included a one-time charge of $33.3 million incurred in connection with the settlement reached with the Chapter 7 Trustee of the Company's bankrupt subsidiary FoxMeyer Corporation and the $1.7 million income on the settlement of litigation discussed above. After preferred stock dividends of $13.7 million, the Company recorded a net loss to common shareholders of $19.1 million, or $1.38 per share, compared with a net loss to common shareholders of $51.0 million, or $3.70 per share in the previous year. BARNEY'S INC: Reports Year-End Results -------------------------------------- Barney's Inc. announced results for the fiscal year-ended August 1, 1998. Losses for the year narrowed to $20 million on sales of $343 million for the 52-week fiscal year; versus a loss of $95 million on sales of $361.5 million for the 53-week fiscal 1997. The Company reported an EBITDA improvement of nearly $20 million, year- over-year, with fiscal 1998 EBITDA of $17.7 million versus a loss of $2.1 million on an EBITDA basis in fiscal 1997. Gross margins improved to 47.9% in 1998 from 46.8% the previous year. For the comparable 52-week period, comp store sales increased 9.3%, demonstrating the Company's success in migrating customers to the Madison Avenue flagship after the closing of the 17th Street location. "Barney's turnaround is substantially complete, with dramatic operational and financial improvements in all measurable areas," said Thomas C. Shull, Chief Executive Officer. "Barney's merchandising and store presentation remain unparalleled in the industry, and the year-end results demonstrate our success in elevating the Company's performance to the high level of the Barney's brand. With our financial and operational house in order, we are extremely bullish about the Company's future. Based on our current trends for the six-month period from August to January 1999, we anticipate exceeding last year's EBITDA performance for the comparable six-month period." The Company also announced that it has named Edward Lambert to the position of Chief Financial Officer, replacing John Dubel. Lambert is the co-founder and Managing Director of Meridian Ventures, Inc., the turnaround and investment firm which was retained by Barney's in September 1997. BUTTERWINGS ENTERTAINMENT: Notice of Sale of Assets --------------------------------------------------- Pursuant to an order entered by the Bankruptcy Court on November 12, 1998, Butterwings Entertainment Group, Inc. and Cookie Crumbs Inc. will conduct a sale of substantially all of the debtors' assets, consisting of ten Mrs. Fields Cookie stores, including the assumption and assignment of their Mrs. Fields sub-leases and franchise agreements. A hearing on the proposed sale shall be held before the Honorable Robert E. Ginsberg in Courtroom 644, 219 S. Dearborn St., Chicago, Illinois on December 2, 1998 at 10:00 am. The debtors have received an offer from Sealog of Minnesota, Inc. to purchase the stores for the aggregate sum of $800,000 subject to higher and better bids at the hearing. DIGICASH: Files For Bankruptcy Protection ----------------------------------------- The privately held Palo Alto, Calif., software-maker filed for Chapter 11 bankruptcy protection last week, capping a skid during which its work force fell from 50 early in the year to just six employees who will oversee a restructuring. The demise of DigiCash, now $4 million in debt, underscores the difficulty companies have had trying to position electronic cash as an alternative to credit cards for online shopping. Only one other proponent, CyberCash of Reston, Va., has been even modestly successful, and it has yet to turn a profit. Despite initial concerns about security, consumers appear increasingly willing to use their credit cards online to buy everything from books to airline tickets. Analysts said there is no demand for electronic cash right now. "There could be way in the future, but it's not something that anyone can possibly make money off of today," said Erina DuBois of Dataquest. DigiCash's electronic cash, called eCash, is paperless money that can be transferred on the Internet. A computer user withdraws eCash electronically from a bank that also subscribes to the system (Austin American Statesman - 11/09/98) ENSEC INTERNATIONAL: Enters Merger Agreement -------------------------------------------- On October 28, 1998, Ensec International, Inc. and Sentech International, Inc. entered into an Agreement and Plan of Merger which provides, among other things, that upon the terms and subject to the conditions thereof, each of Ensec and Sentech shall merge into wholly-owned subsidiaries of Sensec International, Inc., a newly formed Delaware corporation. Ensec and Sentech will be the surviving subsidiary corporations in the merger transactions. In the merger each outstanding share of common of Ensec (other than shares held by holders exercising decanters rights under applicable laws) will be converted into the right to receive 0.2180149 shares of Sensec. After completion of the merger, the Ensec shareholders will own 1,425,000 shares of Sensec and the Sentech shareholders will own 950,000 shares of Sensec. The closing of the Agreement is subject to, among other things, approval by Sentech and Ensec shareholders and the obtaining of fairness opinions by both Ensec and Sentech. A full text copy of the agreement is available at http://www.sec.gov/Archives/edgar/data/0001042910-98- 001039.txt GOLDEN BOOKS: With $18.9 M Loss Chairman Sees Progress ------------------------------------------------------ Golden Books Family Entertainment Inc. lost $18.9 million in the third quarter, compared with a $17.9 million loss in the third quarter of 1997, the company reported Monday. The firm's loss per basic common share, however, narrowed to 71 cents from 76 cents in the year-ago quarter. Excluding revenue from operations that have been sold, sales rose to $52.0 million from $47.6 million in the third quarter of 1997. "While this has been the most difficult of years in all respects for our company, we are making good progress in improving our gross margins, which will be reflected primarily in 1999, and in reducing our selling, general and administrative expenses," Golden Books chairman and chief executive officer Richard E. Snyder said in a statement. Golden Books, a New York-based children's book publisher that operates a 600-employee printing plant in Sturtevant, defaulted on $150 million in senior debt last month by failing to make a $5.7 million interest payment. The company said last week that it was close to completing a "standstill agreement" with a committee representing holders of about $100 million of the senior debt notes. The agreement would shield Golden Books from action by the senior creditors through Feb. 16. That, in turn, would buy time for a more complete restructuring of Golden Books' debt, one analyst said Monday. Golden Books' negative net worth deepened from the second to the third quarter, according to the company's latest filing with the Securities and Exchange Commission. In its latest quarterly filing, Golden Books said it had "decided to pursue a financial restructuring of the company." The firm also noted that its "recurring losses from operations, liquidity and its ability to restructure existing debt with its creditor and net capital deficiency raise substantial doubts about its ability to continue as a going concern." The company last week reported it had a commitment for a $45 million line of credit from CIT Group. That would replace a $30 million credit facility with NationsCredit. Before Monday's announcement, Golden Books shares closed at 72 cents, down 19 cents. (Milwaukee Sentinel Journal- 11/10/98) GULF CANADA RESOURCES: Reports Third Quarter Results ---------------------------------------------------- Gulf Canada Resources Ltd. files a Form 10-Q quarterly report with the SEC for the quarterly period ended September 30, 1998. On September 30, 1998, there were 348,935,744 ordinary shares of stock issued and outstanding. Gulf's net oil and natural gas revenues for the nine months ended September 30, 1998 were $797 million, down $78 million or nine per cent from revenues of $875 million for the first nine months of 1997. The third quarter 1998 revenues of $259 million were $68 million lower than the same period in 1997. Cash generated in the third quarter was $96 million, compared with $155 million in the same period of 1997. Gulf's loss from continuing operations during the nine-month period was $460 million, compared with earnings of $204 million during the first nine months of 1997. The third quarter ended in a loss from continuing operations of $358 million of which $60 million is due to a loss from operating results and $298 million to one-time adjustments A full-text copy of the filing is available via the Internet at: http://www.sec.gov/Archives/edgar/data/0000927356-98- 001763.txt HUNGARIAN BROADCASTING: Notification of Late Filing --------------------------------------------------- Hungarian Broadcasting Corp. notifies the SEC of a late filing of its Form 10-Q due to a change in personnel. INTERNATIONAL WIRELESS: Seeks To Retain KPMG Peat Marwick --------------------------------------------------------- The debtors, International Wireless Communications Holdings, Inc. and its affiliated companies seek a court order authorizing the retention of KPMG Peat Marwick LLP as tax preparers, tax consultants, and accountants for the debtors. The firm charges an hourly rate ranging from $175 to $350. The debtors state that the services of KPMG are necessary in order to enable the debtors to comply with applicable federal, state and municipal laws regarding the payment of taxes. LESLIE FAY: Reports Improved Third Quarter Results -------------------------------------------------- The Leslie Fay Company, Inc. (OTC Bulletin Board: LFAY) reports for its third quarter of 1998, a 17.4% increase in net sales to $48.8 million from $41.6 million in net sales for the year-ago quarter. Gross profit margin of 24.9% for the third quarter of 1998 improved from 23.4% for the year-ago quarter. The company's operating income for third-quarter 1998 increased by 24.0% to $6.0 million from $4.9 million for third-quarter 1997. After adjusting the year-ago quarter for comparability, earnings per diluted share for 1997 were $0.45. Taking into account this adjustment, Leslie Fay's earnings per diluted share for the third quarter of 1998 grew to $0.55, an increase of 22% from the year-ago period. Average shares outstanding, assuming dilution, were 6.8 million for the third quarter of 1998 and 6.9 million for the year-ago quarter. During the third quarter of 1998, Leslie Fay re-purchased 817,100 shares, or about 12% of the total outstanding, pursuant to a share buyback plan announced in April. As of October 3, 1998, there were 5,994,900 shares outstanding. Results for both years include as an offset to operating expenses the positive impact of amortizing the amount by which revalued net assets as of June 4, 1997 exceeded stockholder equity -- a non cash item in connection with the company's emergence from bankruptcy. This positive offset to expenses amounted to $1.1 million, or $0.17 per diluted share, for each period on both an operating and net income basis. Leslie Fay's EBITDA for the company's third quarter of 1998 was $5.4 million, compared with $3.9 million for the year- ago quarter -- up 39.4%. Leslie Fay's EBITDA as a percentage of sales for the third quarter of 1998 was 11.0%, a significant strengthening from the year- ago period's EBITDA of 9.3%, as well as from the year-to- date EBITDA of 9.6%, and from the 12-month 1997 pro forma EBITDA of 5.9%. Trailing 12-month EBITDA was $10.5 million, or 7.1% of trailing 12-month sales of $148.7 million. For its first nine months of 1998, Leslie Fay reported a 15.6% increase in net sales to $122.7 million from $106.2 million in net sales for the company's year-ago first nine months. Gross profit margin of 25.8% for the first nine months of 1998 improved from 25.0% for the year- ago period. Operating income for third-quarter 1998 increased by 10.2% to $13.6 million from $12.3 million for the first nine months of 1997. Before adjustments for purposes of comparability to Leslie Fay's 1997 accrual for taxes, Leslie Fay's net income for the first nine months of 1998 declined to $8.9 million, or $1.33 per basic share, from net income of $9.3 million, or $1.36 per basic share, for the first nine months of 1997. The amounts accrued for taxes in 1997 are not comparable to those for 1998 due to factors in 1997 related to the company's exit from bankruptcy. Adjusting for comparability, the tax accrual for the first nine months of 1997 would be increased by $1.4 million, causing 1997 net income, on a comparable basis, to be reduced to $7.9 million, or $1.16 per basic share. Taking into account this adjustment, Leslie Fay's net income for the first nine months of 1998 grew by $1.1 million, or 13.5% and earnings per basic share grew by 14.7%. Assuming dilution and before adjustments for purposes of comparability to Leslie Fay's 1997 accrual for taxes, Leslie Fay's net income for the first nine months of 1998 declined 2.3% to $1.26 per diluted share from net income of $1.29 per diluted share for the year-ago period. As previously noted, the amounts accrued for taxes in 1997 are not comparable to those for 1998 due to factors in 1997 related to the company's exit from bankruptcy. After adjusting the first nine months of 1997 for comparability, earnings per diluted share for that period were $1.10. Taking into account this adjustment, Leslie Fay's earnings per diluted share for the first nine months of 1998 grew by $0.16, an increase of 14.6% from the first nine months of 1997. Leslie Fay's EBITDA for the company's first nine months of 1998 was $11.8 million, up 26.9% from $9.3 million for the year-ago first nine months. Leslie Fay's EBITDA as a percentage of sales for the first nine months of 1998 was 9.6%, compared with the year-ago period's adjusted EBITDA of 8.7%. Leslie Fay's plan of reorganization was confirmed by the U.S. Bankruptcy Court on April 21, 1997. The reorganized Leslie Fay filed its annual report (Form 10K) covering the pre- and post-Chapter 11 periods with the Securities and Exchange Commission on April 3, 1998. LOUIS ALLIS: Shut Down Hits Motor-Buying Customers Hard ------------------------------------------------------- Louis Allis Co. filed for Chapter 7 bankruptcy reporting $17.1 million in assets and $19.6 million in liabilities, $12.4 million of that secured. Louis Allis was once a major Milwaukee manufacturer, specializing large industrial electric motors and employing 2,800 people as of the late 1960's. But the fortunes of the company declined in recent decades, and it appeared to be headed for a shutdown until Daniel E. Stetler, former president of Louis Allis led a management buyout in 1994. The company turned a profit for three years, then floundered. According to Bank One Wisconsin, which holds about $10.3 million in Louis Allis debt, several creditors are attempting to get work-in- progress released. MANHATTAN BAGEL: First In-Store Unit ------------------------------------ Manhattan Bagel Company (Nasdaq: BGLSQ) today announced the recent opening of its first franchised shop within a Weis Markets (NYSE: WMK) superstore here. The bagel shop is situated within the newly built, 65,000-square-foot superstore at the Red Rose Commons shopping center, located near the intersection of Route 30 and Fruitville Pike. The new 700-square-foot Manhattan Bagel shop is franchised by Lancaster-based Bird-In-Hand Corp. Bird-In-Hand principal John Smucker also operates a Manhattan Bagel franchise in Lancaster as well as other foodservice businesses. With the opening, Weis Markets joins such other supermarket companies as Clemens Markets, D&W Food Centers, and Foodtown that already host in-store Manhattan Bagel shops. All supermarket shops are operated by Manhattan Bagel franchisees or licensees. Weis Markets, based in Sunbury, Pa., currently operates 157 supermarkets in six states, including 14 stores in Lancaster County. Manhattan Bagel currently franchises, licenses or operates approximately 290 stores in 18 states, Washington, D.C., and Israel. The Company also operates bagel dough manufacturing plants in Eatontown, N.J. and Los Angeles. On July 29, Manhattan Bagel announced that it had signed an agreement to be acquired by New World Coffee & Bagels Inc. (Nasdaq: NWCI). Following the acquisition, it is expected that both chains will retain their individual identities while consolidating their corporate infrastructure to create a network of approximately 340 bagel shops and coffee/bagel cafes. The two companies have filed a joint plan of reorganization that would enable Manhattan Bagel to emerge from Chapter 11 bankruptcy protection. The transaction, which is subject to necessary bankruptcy court approvals, would provide no value to existing Manhattan Bagel shareholders. The Company filed for protection under Chapter 11 of the Federal Bankruptcy Code in November 1997 and is operating as a debtor-in-possession. The Company's success is highly dependent on its ability to structure and implement a plan of reorganization, to complete the previously announced transaction with New World Coffee & Bagels Inc., and to emerge from the Chapter 11 proceedings. NU-KOTE HOLDING: Case Summary ----------------------------- Debtor: Nu-Kote Holding Inc. 200 Beasley Drive Franklin, Tennessee 37064 Type of business: Independent manufacturer and distributor of impact and non impact imaging supplies for office and home printing devices. Court: Middle District of Tennessee Case No.: 398-10600 Filed: 11/06/98 Chapter: 11 Debtor's Counsel: Frank J. Wright, Esq. Hance/Scarborough/Wright 2900 Renaissance Tower 1201 Elm Street Dallas, Texas (214) 742-2900 Total Assets: 232 million Total Liabilities: 217 million No. of shares of common stock 21,775,302 - 3,600 holders 20 Largest Unsecured Creditors: None PINNACLE BRANDS: Seeks Approval of Agreement With Leaf ------------------------------------------------------ Pinnacle Brands, Inc. and its debtor affiliates seek a court order authorizing and approving the assumption and assignment of the Leaf License Agreement in connection with and contingent upon the closing of a sale of the debtor's assets pursuant to the purchase agreement to Playoff Corporation. PINNACLE MICRO: May File For Bankruptcy Protection -------------------------------------------------- Facing continued severe liquidity problems, Irvine, Calif.- based Pinnacle Micro cannot explain the recent increase in the price and trading volume of its shares, according to a newswire report. The company is seeking sources for longer- term financing and is operating under an informal moratorium on repayment of its trade debt with no defined termination date. A creditors' committee granted the moratorium. Pinnacle continues to be in default of its agreement with its secured lender, but the lender has continued to provide borrowings to the company. If the lender does not continue to cooperate with Pinnacle, it may be unable to make payments on its line of credit and may file for bankruptcy protection. Pinnacle Micro, founded in 1987, produces optical storage technology and recordable CD storage systems for general data storage and data intensive applications. THE CARE GROUP: Notice of Meeting of Creditors ---------------------------------------------- The debtor, The Care Group, LLC filed an order combined with notice of chapter 11 bankruptcy case, Meeting of creditors & deadlines. The debtor is The Care Group, LLC, 257 Park Avenue South, Suite 12A, New York, NY 10010. Attorney for the debtor is Vincent L. Hazen, Hazen & Terrill, 111 Congress Avenue, Austin, Texas. The meeting of creditors is set for December 8, 1998 at 10:00 am in the Austin Room 118, Homer Thornberry Bldg., 903 San Jacinto, Austin, Texas. Deadline for proof of claim: March 8, 1999, for a governmental unit: May 4, 1999. URBAN COMM: Case Summary & 20 Largest Creditors -------------------------------------------------- Debtor: Urban Comm-Mid-Atlantic, Inc. 505 Eighth Avenue 9th Floor New York, NY 10018 Type of business: Operating company and owner of all of the stock of Urban Comm-North Carolina Inc. Court: Southern District of New York Case No.: 98B47997 Filed: 11/05/98 Chapter: 11 Debtor's Counsel: Charles E. Simpson Windels, Marx, Davies & Ives 156 West 56th Street New York, New York (212)237-1000 Total Assets: $9.8 million Total Liabilities: $10.5 million No. of Amount Holders ------ ------- Fixed, liquidated secured debt $10.5 million 1 No. of shares of preferred stock 0 0 No. of shares of common stock 1,000 20 Largest Unsecured Creditors: Name Nature Amount ---- ------ ------ Gabriel Capital, LP Loan to Subsidiary $10.5 million URBAN COMMUNICATORS: Case Summary & 20 Largest Creditors -------------------------------------------------------- Debtor: Urban Communicators PCS Limited Partnership 505 Eighth Avenue 9th Floor New York, NY 10018 Type of business: Holding Company of Urban Comm-Mid- Atlantic, Inc., who is the operating company of Urban Comm- North Carolina, Inc., the holder of 23 PCS licenses issued by the FCC. Court: Southern District of New York Case No.: 98B47996 Filed: 11/05/98 Chapter: 11 Debtor's Counsel: Charles E. Simpson Windels, Marx, Davies & Ives 156 West 56th Street New York, New York (212)237-1000 Total Assets: $9.8 Million Total Liabilities: $21.8 Million No. of Amount Holders ------ ------- Fixed, liquidated secured debt $17,208,835 2 0 Contingent secured debt $0 0 Disputed secured debt $0 0 Unliquidated secured debt $0 0 Fixed, liquidated unsecured debt 4,573,678 27 Contingent unsecured debt $0 0 Disputed unsecured claims 65,000 1 Unliquidated unsecured debt $0 0 No. of shares of preferred stock 0 0 No. of shares of common stock 0 0 20 Largest Unsecured Creditors: Name Nature Amount ---- ------ ------ Gabriel Capital, LP Guaranty of Loan $10,508,835 Inner City Cable Loan $6.7 million Lowenbaum & Company Financing Advisory $72,217 Rubin, Winston, Legal Services $105,000 Coopers & Lybrand Accounting Services $65,500 Skadden Arps Legal Services $63,801 Nat'l. Assoc, of Black-Owned Broadcasters $12,000 American Express Co. Consultant Fees $6,210 Lois E. Wright, Esq. Consultant Fees $594,000 James L. Winston, Esq. Consultant Fees $636,000 Sydney L. Small Consultant Fees $1,331,500 E. Lee Kaywork Management Bonus $120,000 VAN LEUNEN'S: Hearing on Approval of Disclosure Statement --------------------------------------------------------- The debtor, Van Leunen's Inc. filed a Disclosure Statement on November 3, 1998. A hearing on the approval of the Disclosure Statement will be held before the Honorable J. Vincent Aug, Jr., US Bankruptcy Court, 221 E. Fourth Street, atrium Two, Cincinnati, Ohio, Courtroom #2, Suite 814 on December 3, 1998 at 3:00 p.m. WSR CORPORTION: Notice of Bar Date ---------------------------------- WSR Corporation, R&S/Strauss, Inc., National Automotive Stores, Inc. and National Auto Stores, Corp., debtors, notify all creditors of the debtors that a proof of claim against each of the debtors against which the creditor wishes to assert a claim must be filed on or before 4:00 p.m. on November 30, 1998. ("Bar Date") YES!ENTERTAINMENT: Nasdaq Planning To End Listing of Shares ----------------------------------------------------------- The Wall Street Journal of November 12, 1998 reports that the Nasdaq Stock Market has notified Yes! Entertainment Corp. of Pleasanton, California that it intends to remove the company's common stock from its listings. Nasdaq said the company has failed to amintain the exchange's minimum bid price and market value and has fallen below its minimum net-tangible-asset requriement. DLS CAPITAL PARTNERS: Bond Pricing For Week of November 9 --------------------------------------------------------- Following are indicated prices for selected issues: Acme Metal 10 7/8 '07 18 - 21 (f) Amer Pad & Paper 13 '05 49 - 52 Amer Telecasting 0/14 1/2 '04 22 - 24 Asia Pulp & Paper 11 3/4 '05 76 - 77 Boston Chicken 7 3/4 '05 7 - 8 (f) Brazos 10 1/2 '07 23 - 27 Brunos 10 1/2 '05 12 - 15 (f) Cityscape 12 3/4 '04 15 - 18 (f) E & S Holdings 10 3/8 '06 36 - 43 Globalstar 11 1/4 '04 70 - 72 Hills 12 1/2 '03 54 - 58 Liggett 11 1/2 '99 73 - 76 Mobilemedia 9 3/8 '07 17 - 20 (f) Penn Traffic 9 5/8 '05 16 - 17 Planet Hollywood 12 '05 37 - 40 Royal Oak 12 3/4 '06 45 - 50 Samsonite 10 3/4 '08 80 - 82 Service Merchandise 9 '04 49 - 50 Sunbeam 0 '18 12 - 13 Zenith 6 1/4 '11 17 - 20 (f) *********** The Meetings, Conferences and Seminars column appears in the TCR each Tuesday. Submissions via e-mail to conferences@bankrupt.com are encouraged. Bond pricing, appearing each Friday, is supplied by DLS Capital Partners, Dallas, Texas. S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter, co- published by Bankruptcy Creditors' Service, Inc., Princeton, NJ, and Beard Group, Inc., Washington, DC. Debra Brennan and Lexy Mueller, Editors. Copyright 1998. All rights reserved. ISSN 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not 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. * * * End of Transmission * * *