TCR_Public/990706.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
     
         Tuesday, July 6, 1999, Vol. 3, No. 127                                              
                           
                    Headlines

ABRAXAS PETROLEUM: To Offer Exchange Of Senior Secured Notes
AHERF: Trustee Seeks Merger For Allegheny and West Penn Health
AL TECH: Seeks Order Authorizing Sale of Extrusion Assets
AMF BOWLING: Additional Securityholder Listed As Selling
AVATEX: Agreement Reached On Merger & Stockholder Litigation

BIOPORT CORP: Anthrax Vaccine Company on Verge of Bankruptcy
BRADLEES INC: Convertible Notes & Common Stock Readied For Sale
CAI WIRELESS: Shareholder Unrest Prompts SEC Filing
CALIFORNIA COASTAL: Repurchases Nearly 200,000 Odd-lot Shares
CHASTAIN CAPITAL: 1,400,000 Share Beneficial Ownership Announced

CHERRYDALE FARMS: Seeks To Employ Accountants
CONNECTIVITY TECHNOLOGIES: Products To Be Sold To Rome Group
CONXUS COMMUNICATIONS: Committee Taps Pepper Hamilton
FLORIDA COAST: Committee of Noteholders Seek Approval of DIP
GANTOS INC: Company Ousts Auditors, Claims No Major Disagreements

GENEVA STEEL: Seeks Approval of Pipe Mill Equipment Sale
GULF STATES STEEL: Filed For Chapter 11 Bankruptcy
HUNGARIAN BROADCASTING: Over 10% Of Company Owned By Danish Firm
HUNGARIAN BROADCASTING: Over 10% Of Stock Subject Of Agreement
LEVITZ FURNITURE: Seek Eighth Extension of Exclusivity

LEVITZ: Masullo Named VP Strategic Operations and Human Resources
LOEWEN: Further Discussions Pertaining to $200 Million DIP
LOEWEN: Seeks Approval To Hire KPMG as Auditors and Accountants
LOGAN SQUARE EAST: Purchased by The Fountains
MEDIA LOGIC: Trustee's Motion To Convert Case To Chapter 7

NEVADA BOB'S: Announces Intended Acquisitions
NEWCARE HEALTH: Chapter 11 Triggers Default
PAGE AMERICA: Bar Date Set For August 2, 1999
PAGE AMERICA: Seeks Final Order Approving Stroock & Stroock
PAGE AMERICA: Summary of Plan

PARAGON TRADE: Committee Supports Terms of Investment
RAINTREE HEALTHCARE: Will Not Make $1.3 Million Interest Payment
READING CHINA: Seeks Approval of Sale
RENAISSANCE COSMETICS: Brings $29M At Auction As One Unit
TELEPAD CORP: Committee Taps Blank Rome Comisky & McCauley LLP

WEINER'S STORES: Announces Changes in Senior Management
WESTMORELAND COAL: Expects To Conduct Additional Tender Offer
WIRELESS ONE: Bar Date Set For July 23, 1999

BOND PRICING FOR WEEK OF JUNE 28, 1999

                    **********

ABRAXAS PETROLEUM: To Offer Exchange Of Senior Secured Notes
------------------------------------------------------------
Abraxas Petroleum Corporation announces the registration of
$63,500,000 Senior secured notes due 2003. The offer will be the
exchange of 12 7/8% Senior secured notes due 2003, Series B, for
any and all outstanding 12 7/8% Senior secured notes due 2003.

The 12 7/8% Senior secured notes due 2003 were originally offered
and sold on March 26, 1999 and will mature on March 15, 2003.  
They will bear interest at the annual rate of 12 7/8%, payable
semi-annually beginning on September 15, 1999.  The notes are
secured by most of the company's current and future assets other
than certain excluded assets, and rank senior in right of payment
to any of its subordinated indebtedness and rank equally
with any of its senior indebtedness.  They will be subject to
redemption or repurchase by the company under certain
circumstances.

The 12 7/8% Senior secured notes due 2003, Series B are offered
in exchange for an equal principal amount of Abraxas' outstanding
Senior secured notes. They evidence the same indebtedness as its
outstanding Senior secured notes and are entitled to the benefits
of the indenture under which those notes were issued.  They are
substantially identical in all material respects to the company's
outstanding Senior secured notes, except for certain transfer
restrictions and registration rights.

The exchange offer will expire on a date in July 1999 yet to be
determined, unless extended.  The offer satisfies the company's
obligations under a registration rights agreement which it
entered into with the initial purchaser of its Senior secured
notes.  The offer will terminate the rights of most holders of
any outstanding Senior secured notes to exercise registration
rights under the registration rights agreement.  Abraxas
indicates the exchange is not a taxable exchange for
U.S. Federal income tax purposes, and is not subject to any
condition other than that the exchange offer not violate
applicable law or any applicable interpretation of the staff of
the Securities and Exchange Commission.


AHERF: Trustee Seeks Merger For Allegheny and West Penn Health
--------------------------------------------------------------
Trustee Seeks Merger for Allegheny General Hospital and West Penn
Health System Bankruptcy Trustee William Scharffenberger
yesterday asked Bankruptcy Judge M. Bruce McCullough to approve a
settlement that would enable Allegheny General Hospital (AGH) and
its suburban affiliates to complete a merger with West Penn
Health System, The Pittsburgh Post-Gazette reported. He also
sought an emergency hearing on the request and on a plan to
make West Penn the interim manager of AGH and several of the
affiliates. However, Scharffenberger said he does believe that
West Penn has completed a financing agreement to allow it to take
over the hospitals. Under the proposed settlement, Allegheny
Health, Education and Research Foundation (AHERF) creditors would
release the foundation's Western Pennsylvania hospitals from
further claims in exchange for $25 million. West Penn would
receive certain assets from the bankrupt entities. The settlement
is contingent on West Penn taking over by July 31. AGH is not
part of its parent company's chapter 11, but AHERF creditors have
threatened to press claims against AGH and its affiliates unless
the hospitals were sold to help settle AHERF's debts.  (ABI 02-
July-99)


AL TECH: Seeks Order Authorizing Sale of Extrusion Assets
---------------------------------------------------------
The debtor, AL Tech Specialty Steel Corporation seeks approval of
an order authorizing and approving the sale and lease to Altx,
Inc. And Tubacex America Holding Corporation of the debtor's
extrusion assets.

The total consideration to be paid by Altx for the personal
property  and the leased property is $1.5 million plus 100% of
the lower of cost or current market value of each item of the
inventory included in the sale, valued using a certain formula.
(A total purchase price estimated at approximately $3 million).  
A break up fee of $100,000 is provided in the event of a sale to
a higher and better offer.  Higher and better offers must better
the purchase price in increments of $250,000.


AMF BOWLING: Additional Securityholder Listed As Selling
--------------------------------------------------------
AMF Bowling Inc. is issuing Prospectus Supplement No. 7 to its
prospectus dated November 6, 1998 relating to the sale of
1,125,000,000 zero coupon convertible debentures due 2018 and
shares of common stock issuable upon conversion, redemption or
repurchase. An additional selling secuityholder is listed as Alta
Partners Holdings, LLC.  As of June 24, 1999 Alta Partners
Holdings, LLC, held the principal amount of debentures at
maturity of 3,500,000 convertible at maturity to 30,356 shares of
common stock.


AVATEX: Agreement Reached On Merger & Stockholder Litigation
------------------------------------------------------------
Avatex Corporation announces agreement on an amended merger
transaction and settlement of preferred stockholder litigation.  
The agreement was reached with a majority of holders of its two
series of preferred stock on the terms of a revised merger
between Avatex and its wholly-owned subsidiary, Xetava
Corporation, and the settlement of the preferred stockholders'
litigation against the companies relating to their prior merger
transaction announced in April 1998. Under the revised merger
agreement, Xetava will merge with and into Avatex, and Avatex's
existing preferred stockholders will receive new common stock of
Avatex, or such stockholders may in lieu thereof elect to receive
a combination of cash, secured notes, warrants and other
consideration. Avatex's existing common stockholders will receive
new common stock of Avatex.

Specifically, under the revised merger agreement, each share of
existing Avatex common stock will be converted into one share of
new Avatex common stock.  Each share of existing Avatex First
Series preferred stock will be converted into 9.134 shares of new
Avatex common stock or, at the election of the holder, (1)
$3.7408 in cash, (2) $8.340 principal amount of 6.75%
notes to be issued by Avatex Funding, Inc., a new wholly-owned
subsidiary of Avatex, (3) warrants to purchase 0.67456 shares of
new Avatex common stock, and (4) a deferred contingent right to
receive (a) 16% of an amount equal to 20% of any net recovery
that Avatex may receive in certain litigation brought by Avatex
against McKesson Corporation and a number of large pharmaceutical
manufacturers, divided by (b) the number of outstanding shares of
First Series preferred stock. Each share of existing Avatex
Series A preferred stock will be converted into 7.253 shares of
new Avatex common stock or, at the election of the holder, (1)
$2.9705 in cash, (2) $6.623 principal amount of 6.75%
notes to be issued by Avatex Funding, Inc., (3) warrants to
purchase 0.53567 shares of new Avatex common stock, and (4) a
deferred contingent right to receive (a) 84% of an amount equal
to 20% of any net recovery that Avatex may receive in the
described litigation, divided by (b) the number of outstanding
shares of Series A preferred stock. The maximum amount of any
payments on the deferred contingent rights that could be made to
holders of the First Series and Series A preferred
stock is $7.5 million.

Avatex Funding, Inc. will be a new Avatex subsidiary whose
purpose will be to issue the 6.75% notes under the merger and to
own 3,571,533 shares of common stock of Phar-Mor, Inc., which are
now owned by Avatex and will be transferred to Avatex Funding and
pledged to secure the notes. The principal of the notes will be
due three years from issuance, and interest will accrue on the
notes at the rate of 6.75% per year and will be payable
semi-annually in cash. Avatex will also guarantee the notes. The
Avatex warrants will be exercisable at the price of $2.25 per
share of new Avatex common stock for a five year term beginning
three months after the closing of the proposed merger.

Avatex has also entered into settlement, stockholder and voting
agreements with the preferred stockholder plaintiffs in the three
Delaware lawsuits pending against Avatex, Xetava and certain of
the Avatex directors. Under the settlement stipulation with the
plaintiffs in the class action lawsuits brought on behalf of all
holders of Avatex First Series and Series A preferred stock and
the plaintiff in the non-class action lawsuit, subject
to court approval and effective upon the closing of the merger,
the lawsuits will be settled in consideration for the new terms
of the merger agreement and Avatex will pay the plaintiffs'
attorneys' fees up to $1.1 million. Under a voting agreement with
one of the named plaintiffs in one of the class action lawsuits,
the plaintiff has agreed to vote in favor of the proposed merger
and to waive any appraisal rights in connection with the proposed
merger. Such plaintiff will also receive $300,000 in exchange
for a ten year standstill agreement with Avatex, a general
release of liability (subject to certain specified exceptions) as
to Avatex and its directors and other consideration. Under a
separate stockholder agreement with Elliott Associates, L.P., the
plaintiff in the non-class action lawsuit, and Mr. Moses Marx,
Elliott Associates, Mr. Marx and their respective affiliates and
associated companies have agreed to vote in favor of the
proposed merger, to waive any appraisal rights in connection with
the proposed merger, and to elect to receive the cash, notes,
warrants and other consideration upon consummation of the
proposed merger. Avatex will also pay Mr. Marx, Elliott
Associates and their respective affiliates and
associated companies $600,000 in exchange for a ten year
standstill agreement with Avatex, a general release of liability
as to Avatex and its directors and other consideration.

In addition, Avatex has been advised that Mr. Marx, Elliott
Associates and their respective affiliates and associated
companies have entered into a Stock Purchase Agreement with Phar-
Mor, Inc., which is 38%-owned by Avatex. Subject to the
consummation of the proposed merger between Avatex and
Xetava, Phar-Mor has agreed to purchase approximately 2.8 million
shares of Avatex common stock from Mr. Marx, Elliott Associates
and their respective affiliates and associated companies for
$2.00 per share, with the closing to occur simultaneously with
the closing of the proposed merger between Avatex and Xetava. Mr.
Marx, Elliott Associates and their respective affiliates and
associated companies have granted a proxy to Phar-Mor to vote
their shares of Avatex common stock in favor of the proposed
merger.

The merger agreement has been approved by the board of directors
of Avatex. Consummation of the merger is conditioned upon, among
other requirements, (i) approval of the transaction by the
holders of a majority of the outstanding shares of Avatex common
stock and two-thirds of each series of Avatex preferred stock,
voting separately as a class, (ii) effectiveness of a
registration statement to be filed with the Securities and
Exchange Commission with respect to the shares of new Avatex
common stock, 6.75% notes and warrants that will be issued in the
merger; and (iii) dismissal of the three Delaware lawsuits and
the approval of the settlement by the Delaware Court of Chancery.

Avatex will schedule a meeting of its common and preferred
stockholders to vote on the proposed merger after its proxy
statement/prospectus is available for mailing. Avatex currently
expects the meeting to take place in the fall of 1999.

Avatex is a holding company that, along with its subsidiaries,
owns interests in other corporations and partnerships. Through
Phar-Mor, Inc., Avatex is involved in operating a chain of retail
discount drug stores devoted to the sale of prescription and
over-the-counter drugs, health and beauty aids and other general
merchandise.


BIOPORT CORP: Anthrax Vaccine Company on Verge of Bankruptcy
------------------------------------------------------------
BioPort Corp., the only U.S. company that produces an anthrax
vaccine, is close to bankruptcy, The Washington Post reported
this week. This complicates a Pentagon program plan to
immunize all U.S. troops against the germ warfare agent. BioPort
officials said this week that renovation delays and other
transitional problems after their purchase of the vaccine
production facility have caused serious financial problems.
BioPort said that unless the Pentagon agrees to pay about $10 per
dose instead of the $3.50 currently agreed on, the company does
not expect to be able to meet the terms of a $29 million contract
with the Defense Department. A General Accounting Office (GAO)
report released at a hearing this week found that the delay in
the renovation of the facility has caused a serious cash flow
problem, and the GAO projects a "significant operating loss" for
the year. In testimony on behalf of the Pentagon, Rear Adm.
David Oliver Jr., a senior acquisition officer, suggested that
his staff may have pushed BioPort too hard to accept a price that
was too low and that they are now reviewing the matter. He also
said there is enough of the vaccine in inventory to meet the
Pentagon's needs through August 2000. (ABI 02-July-99)


BRADLEES INC: Convertible Notes & Common Stock Readied For Sale
---------------------------------------------------------------
Bradlees, Inc. and its subsidiary companies operate discount
department stores in the Northeast through Bradlees, Inc.'s
subsidiary, Bradlees Stores, Inc. The company is readying a
prospectus for securities issued by it under the terms of its
bankruptcy reorganization.

The prospectus will relate to: 7,267,424 shares of common stock
of Bradlees, Inc.; $36,000,000 of 9% Convertible notes issued by
Bradlees Stores, Inc. and the common stock issuable upon
conversion of the Convertible notes; and the guarantee by
Bradlees, Inc. and New Horizons of Yonkers, Inc. of the 9%
Convertible notes.

The company states it is registering these securities on behalf
of the selling securityholders who received the securities,
directly or indirectly, under the company's Plan of
Reorganization in exchange for the cancellation of various
indebtedness owed them. Bradlees is not selling any of these
securities and will not receive any proceeds from the sale of the
securities. The selling securityholders may offer the securities
through public or private transactions, on the Nasdaq National
Market, at prevailing prices or at privately negotiated prices.
The registration of the securities does not necessarily mean that
any selling securityholder will actually sell such securities.

The common stock being offered is listed on the Nasdaq National
Market and on June 4, 1999, the last reported sale price of the
common stock was $10.17 per share.

Details incorporated in the prospectus may be viewed at
http://www.sec.gov/cgi-bin/srch-edgar?0000927016-99-002455on the  
Internet, free of charge.


CAI WIRELESS: Shareholder Unrest Prompts SEC Filing
---------------------------------------------------
1,632,514 shares of common stock in CAI Wireless Systems Inc., a
corporation organized under the laws of Connecticut, have been
reported to the SEC as being held by the following:

Resurgence Asset Management, L.L.C.("RAM"), 582,947 shares
representing 3.4 % of outstanding stock; Resurgence Asset
Management International, L.L.C. ("RAMI"), 386,687
shares representing 2.2%;  Re/Enterprise Asset Management, L.L.C.
("REAM"), 628,206 shares representing 3.6%;  Kingstreet Ltd.
(British Virgin Islands), 7,792, less than .1%;  M.D. Sass
Corporate Resurgence Partners, L.P. ("Resurgence L.P."),
582,947, or 3.4;  M.D. Sass Corporate Resurgence International,
Ltd. ("Resurgence Ltd."-British Virgin Islands), 299,003,1.7%;
M.D. Sass Re/Enterprise Partners, L.P. ("Re/Enterprise"),
140,459, .8%;  M.D. Sass Re/Enterprise - II, L.P. ("Re/Enterprise
II"), 32,806, .2%; M.D. Sass Re/Enterprise International, Ltd.
("Re/Enterprise International"-British Virgin Islands), 87,684,
.5%;  M.D. Sass Associates, Inc., 628,206, 2.4%; M.D. Sass
Management, Inc., 87,684, .5%;  M.D. Sass Investors Services,
Inc., 454,941, 2.6%; Resurgence Parallel Fund LLC, 20,356, less
than .1%;  The M.D. Sass Re/Enterprise International Irrevocable
Trust II (British Virgin Islands), 7,792, less than .1%;
M.D. Sass Associates, Inc. Employee Profit Sharing Plan
("SAEPS"), 6,526, less than 01%.

As of June 15, 1999 the above beneficially owned an aggregate  of
1,632,514 shares, representing 9.5% of the total outstanding.  
The funds for acquisitions by the two employee benefit or
retirement plans were provided by monies invested by or
contributed on behalf of the employee participants in such plans.
The funds for acquisitions by the others were provided by monies
invested as capital contributions by investors, partners
or shareholders as the case may be.

While beneficial ownership denotes sole voting and dispositive
power Mr. James B. Rubin serves as Manager or Chief Investment
Officer for eleven of the entities mentioned and is responsible
for the day-to-day investment activities of each.  Therefore,
voting and dispositive powers may said to be shared.  The M.D.
Sass Re/Enterprise International Irrevocable Trust II
owns 100% of Kingstreet Ltd., and therefore, voting and
dispositive powers are deemed to be shared.  All shares were
acquired on the open market.

The report of stock ownership was made to the SEC by the
shareholders above due to their concerns and questions regarding
the agreement for the acquisition of CAI Wireless by MCI
WorldCom, Inc., which has been announced by management.  Their
concerns include CAI Wireless' adoption of a  shareholders'
rights  plan or so-called  "poison  pill"  and its grant to MCI  
WorldCom  of an option to acquire  6,090,481  shares of CAI.
Additionally, the reporting persons  are  concerned  that  those
transactions  will not have the  effect of maximizing value for
all shareholders of CAI.

On June 10, 1999, James B. Rubin,  on behalf of RAM, RAMI, and
REAM, each an owner noted above,  contacted CAI Wireless to
express concerns regarding the MCI Worldcom transactions, to ask
questions of  management and to  request additional information
with respect to such matters.

On June 15, 1999, the above shareholders  received a letter from
CAI, in which CAI is said to have stated that it was not prepared
to provide the inquiring parties with any  information  other  
than a copy of the Disclosure Statement filed by CAI in its
Chapter 11 bankruptcy case which as confirmed on September 30,
1998.

Because of CAI's refusal to provide the inquiring shareholders
with any information other than the Disclosure  Statement,  they
are considering whether to take further steps to protect the
interests  of CAI's shareholders and to seek to enhance
shareholder value.


CALIFORNIA COASTAL: Repurchases Nearly 200,000 Odd-lot Shares
-------------------------------------------------------------
On June 21, 1999, California Coastal Communities, Inc. announced
that, in connection with implementing the company's previously
announced plan to repurchase approximately 230,000 odd-lot
shares, the average daily closing price per share on the Nasdaq
National Market for the ten trading days ended June 18th was $
6.51 per share. The plan, which was approved by the company's
stockholders last month, was effected following the market close
on Friday, June 18, 1999, through a 1-for-100 reverse stock split
which will result in the cash-out of approximately 12,300 odd-lot
stockholders who each hold less than 100 shares. These
stockholders will receive a letter of transmittal in
approximately one week with instructions on how to receive the
cash payment for their shares.

The transaction resulted in 192,463 odd-lot shares being cashed-
out. Following completion of the stock splits, California Coastal
Communities had a total of 10,058,539 shares of its common stock
outstanding.

The reverse split was immediately followed by a 100-for-1 forward
stock split, thereby preserving the pre-split stock price per
share on Nasdaq.  Registered stockholders with more than 100 pre-
split shares will receive a letter of transmittal with
instructions on how to receive new stock certificates.

Raymond J. Pacini, President and Chief Executive Officer of
California Coastal Communities commented, "Over the last seven
months, the company has repurchased an aggregate of over 1.9
million shares, representing approximately 16.3% of the company's
outstanding shares, at an aggregate cost of approximately $11.5
million (an average of $5.89 per share). The Board of Directors
continues to believe the company's stock is significantly
undervalued and that retiring shares will realize a
substantial value for shareholders."

California Coastal Communities Inc. is a residential land
development and homebuilding company which holds a large
residential land inventory in Southern California. The company's
principal subsidiaries are Signal Landmark, which owns Warner
Mesa, a 200 acre master-planned community of up to 1,235 homes
adjacent to the Pacific Ocean and overlooking the Bolsa
Chica wetlands in Orange County, CA; and Hearthside Homes, Inc.,
the sixth largest homebuilder in Orange County in 1998, currently
building a 1,200 home master-planned community in Aliso Viejo, CA
and 112 homes at the company's Rancho San Pasqual master-planned
golf course community in Escondido, CA.


CHASTAIN CAPITAL: 1,400,000 Share Beneficial Ownership Announced
----------------------------------------------------------------
Chastain Capital Corporation announces beneficial ownership of
its common stock in the amount of 700,000 shares, representing
9.52% of its outstanding stock, resides in Thomas Knott, Abner
Kurtin, K Capital Partners, LLC, and Harwich Capital Partners,
LLC.  K Capital Partners II, L.P. holds 685,370 shares
representing 9.33%, while K Capital Partners I, L.P. owns 14,630
shares, or 0.199% of the outstanding shares.  Cumulative
the ownership shares equal 1,400,000 and each holder has sole
voting and dispositive power over the shares represented.


CHERRYDALE FARMS: Seeks To Employ Accountants
---------------------------------------------
The debtors, Cherrydale Farms, Inc., et al. seek a court order
authorizing the debtor to employ Amper Politziner & Mattia as its
accountants.  

On March 25, 1999, the U.S. Trustee held an organizational
meeting and appointed an Official Committee of Unsecured
Creditors.  Whiteford, Taylor & Preston and Young, Conaway,
Stargatt & Taylor are attorneys to the Committee.

The debtors seek to retain the accounting firm to prepare the
debtors' sales and use tax returns for the months October 1998
through April 1999. The firm will also file a form to terminate
the debtors' 401(k)plan.  The debtors seek to retain the firm for
an initial period of 250 man-hours, estimated at $35,950.


CONNECTIVITY TECHNOLOGIES: Products To Be Sold To Rome Group
------------------------------------------------------------
On June 23, 1999, Connectivity Technologies Inc. announced the
signing of a non-binding Letter of Intent to sell its operating
subsidiary, Connectivity Products Incorporated, to Rome Group,
Inc. or a wholly-owned subsidiary thereof for a total cash
consideration of $21 million, subject to adjustment.

A spokesman for Connectivity Technologies said that the
transaction is expected to generate net proceeds of over $3
million to Connectivity Technologies (after the repayment of
debt, payment of selected expenses, transaction costs and taxes).
The transaction is subject to various conditions, including the
signing of a mutually satisfactory stock purchase agreement,
satisfactory completion of due diligence investigation by the
buyer, termination of the applicable waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, the
approval of Rome Group's Board of Directors and the approval of
Connectivity Technologies' shareholders at a meeting to be held
as soon as the necessary documentation and regulatory matters can
be completed.

A Connectivity Technologies spokesperson said that, assuming that
the sale is consummated, Connectivity Technologies intends to
maintain its status as a public corporation and to seek to
acquire other operating assets. Company officials said that it
was not expected that the sale would result in the loss of
Connectivity Technologies' substantial net operating losses for
tax purposes.

Connectivity Technologies, formerly known as Tigera Group, Inc.,
acquired its interest in Connectivity Products, a manufacturer
and assembler of wire and cable products, in May 1996. In late
April 1999, Connectivity Technologies announced the signing of a
new credit agreement between Connectivity Products and its
lenders covering a credit facility extending until January 31,
2000 in the amount of $16,460,700, including an over-advance,
with a maximum indebtedness at any one time to be determined by a
borrowing base calculation. Since that time, Connectivity
Products has reduced its indebtedness to its lenders by
approximately $800,000.

Rome Group, the acquiring company, through its subsidiary, Rome
Cable Corporation, manufactures wire and cable products, and its
affiliate, Sherburne Metal Products, produces high grade copper
and copper alloy metals for a variety of applications.  A Rome
Cable spokesperson said that the acquisition of Connectivity
Products and its operating divisions, BSCC and Energy Electric
Assembly, will extend the range of wire and cable products
offered by Rome and adds the cable assembly capability of Energy
Electric Assembly.

The Rome Cable operation was established in 1936 and is a leading
supplier to the industrial, utility, OEM, commercial, and mining
markets. With six strategically located distribution centers and
its headquarters in Rome, New York, Rome Cable is positioned to
effectively service the day-to-day needs of these markets.


CONXUS COMMUNICATIONS: Committee Taps Pepper Hamilton
-----------------------------------------------------
The Official Committee of Unsecured Creditors applies for
approval of the appointment and retention of Pepper Hamilton LLP
as counsel for the Committee.

The firm will provide the following services:

Render legal advice with respect to the duties and powers of the
Committee in these cases;

Assist the Committee in its investigation of the acts, conduct,
assets, liabilities, and financial condition of the debtors, the
operation of the debtors' businesses, and the desirability of the
continuation of such businesses, and any other matter relevant to
the cases or to the formulation of a plan of reorganization;

Participate in the formulation of the plan;

Assist the Committee in requesting the appointment of Trustees or
Examiners, should such action become necessary.

The hourly rate for attorneys and paralegals at the firm range
from $325 per hour to $75 per hour.


FLORIDA COAST: Committee of Noteholders Seek Approval of DIP
------------------------------------------------------------
The Ad Hoc Committee of Noteholders, representing certain holders
of Series A and Series B 12 3/4% First Mortgage Notes Due 2003
issued by the debtors, Florida Coast Paper Company, LLC and
Florida Coast Paper Finance Corporation seek approval of a $5
million DIP financing facility proposed by certain funds and
accounts managed by Fidelity Management and Research Company,
Merced Partners Limited Partnership and BDC Finance LLC.  The DIP
is conditioned on the termination of the debtors' exclusive
periods.


GANTOS INC: Company Ousts Auditors, Claims No Major Disagreements
-----------------------------------------------------------------
Gantos Inc., as of June 17, 1999, discontinued the client-auditor
relationship between itself and PricewaterhouseCoopers LLP, the
independent accountants for the company's most recent fiscal
year. Gantos is quick to point out that in connection with its
audits for fiscal years 1998 and 1997, and during the interim
period preceding PricewaterhouseCoopers LLP's resignation, there
were no disagreements between the company and
PricewaterhouseCoopers LLP on any matter of accounting principles
or practices, financial statement disclosure, or auditing scope
or procedure for such years, which, if not resolved to the
satisfaction of PricewaterhouseCoopers LLP, would have caused
them to make reference to the subject matter of the disagreement
in connection with their report on the financial statements.

PricewaterhouseCoopers LLP's reports with respect to Gantos'
financial statements for fiscal 1998 and 1997 contained no
adverse opinion or disclaimer of opinion and were not qualified
or modified as to audit scope or accounting principles; however,
such reports included an explanatory paragraph regarding the
company's ability to continue as a going concern in both reports.


GENEVA STEEL: Seeks Approval of Pipe Mill Equipment Sale
--------------------------------------------------------
The debtor, Geneva Steel Company, seeks a court order approving
the sale of the debtor's large diameter pipe mill equipment.  The
pipe mill equipment is located on the premises of the debtor in
Vineyard, Utah, it does not constitute a core asset of the
debtor, and the debtor has not operated the Pipe Mill Equipment
for more than ten years, and the debtor has been attempting to
sell the equipment for over a year.  The purchaser is Mitsubishi
International Corporation of New York.  The purchase price is
$4.55 million.

A hearing on the motion is scheduled before the Honorable Glen E.
Clark on July 21, 1999 at 2:00 PM on the 3rd floor of the Frank
E. Moss US Courthouse, 350 South Main Street, Salt Lake City,
Utah.


GULF STATES STEEL: Filed For Chapter 11 Bankruptcy
--------------------------------------------------
Gulf States Steel filed for Chapter 11 bankruptcy Thursday, with
the company's chairman blaming the dumping of foreign-made steel
into the U.S. market.

Bob Schaal, the Gadsden company's chairman and CEO, said in a
statement Gulf States would be able to continue operating during
the proceedings thanks to a post-petition credit availability of
about $ 100 million.

"We regret having to file this petition just as we regret the
illegal dumping of foreign steel that has forced us into this
situation," Schaal said.  He said the additional financing will
allow Gulf States to reorganize, restructure its debt and make
capital improvements, as well as overhaul its overall cost
structure and finances.

The company filed its petition in U.S. Bankruptcy Court in
Anniston. Under Chapter 11, companies can continue to operate
while devising reorganization plans that are subject to approval
of creditors, debtors and the courts. The steel plant, which
hasn't made a profit since 1995, employs about 1,850.
About 65 workers are currently laid off, according to the latest
report. That's compared to last fall when about 250 workers were
laid off.

For the first six months of the current fiscal year, Gulf States
sustained a record $ 35.7 million net loss, according to a
quarterly report Gulf States released June 15. The company
attributes most of the losses to an increase in imports of
foreign steel which have depressed steel prices. Earl Guyton,
president of Local 2176 of the United Steelworkers, said an
international union representative will come to Gadsden to
explain the laws and procedures of bankruptcy to Gulf States
union members. "The employees have the right to know as much as
they can about what the future holds for them," Guyton told the
Gadsden Times Wednesday, when it became apparent the company
might be filing for bankruptcy. "The way I understand it,
Chapter 11 is not the end of the world. People continue to work
and the hourly people should not miss a paycheck."

Gulf States was unable to make a $ 12.8 million bond interest
payment before May 15, putting it into default. The company has
been in confidential negotiations with the bondholders for the
past few months. The June report by Gulf States said that while
bondholders have not indicated they would accelerate or demand
payment on the notes they hold from the company, there's no
guarantee it might not happen in the future. At the time, the
company said that could force it into bankruptcy.

Schaal said he believes Gulf States Steel will emerge as a
"better-capitalized, lower cost, profitable company" with
implementation of the reorganization plan.


HUNGARIAN BROADCASTING: Over 10% Of Company Owned By Danish Firm
----------------------------------------------------------------
Hungarian Broadcasting Corporation announced recently the
beneficial ownership of 10.7% of the outstanding shares of its
common stock is owned by Danish Investment Fund for Central and
Eastern Europe.  The Danish Investment Fund presently owns
1,285,714 shares.  The Investment Fund has sole voting and
dispositive power over the total number of shares shown.


HUNGARIAN BROADCASTING: Over 10% Of Stock Subject Of Agreement
--------------------------------------------------------------
A shareholders' agreement concerning Hungarian Telephone and
Cable Corp between Tele Danmark A/S ("TD") and The Investment
Fund for Central and Eastern Europe ("IFCE")dated May 11, 1999,
gave The Investment Fund the right to sell to Tele Danmark A/S
and Tele Danmark A/S the obligation to purchase all of the shares
of common stock of Hungarian Broadcasting owned by the Investment
Fund from May 11, 1999 to June 25, 1999 and from May 15,
2002 to June 15, 2004, or in the event Hungarian Broadcasting
starts activities outside the former Warsaw Pact countries in
Central and Eastern Europe. The purchase price will be calculated
to correspond to a return on The Investment Fund's purchase price
of 10% per year, including compounded interest in case the shares
are sold pursuant to the first instance above, or 12% per year,
including compounded interest, in case the shares are sold
pursuant to the second instance.

In addition, from May 15, 2002 to June 15, 2004, The Investment
Fund has the obligation to sell to Tele Danmark A/S and Tele
Danmark A/S has the right to purchase all of the shares of common
stock of Hungarian Broadcasting owned by The Investment Firm. The
purchase price will be calculated to correspond to a return on
The Investment Firm's purchase price of 12% per year, including
compounded interest.


LEVITZ FURNITURE: Seek Eighth Extension of Exclusivity
------------------------------------------------------
While telling Judge Walrath the they will file a plan of
reorganization on or before July 7, 1999, the Debtors ask for an
eighth extension of their exclusive periods during which to
propose and solicit acceptances of a plan, in order to
"facilitate negotiations and the ultimate emergence from
Chapter 11."  The Debtors stress that they desire to file a
consensual plan of reorganization that has the support of the
Creditors' Committee and certain significant holders of unsecured
claims.  The Debtors hint that the July 7 Plan may need some
tinkering after it is filed to achieve their goal of taking a
fully consensual plan through the disclosure statement approval
and confirmation processes.  

The Debtors ask that their exclusive periods during which to file
a plan of reorganization be extended until September 30, 1999.  


LEVITZ: Masullo Named VP Strategic Operations and Human Resources
-----------------------------------------------------------------
Levitz Furniture Corporation announced the appointment of
Nicholas S. Masullo to the new position of Vice President -
Strategic Operations and Human Resources, effective
immediately.


LOEWEN: Further Discussions Pertaining to $200 Million DIP
----------------------------------------------------------
With the agreement of the Debtors, First Union and the Committee,
a hearing seeking final approval of the DIP Financing Facility is
adjourned to July 15, 1999.  That adjournment will allow the
parties to

(i) further review and negotiate the financial covenants set
forth in the DIP Credit Agreement;

(ii) afford the Committee a reasonable opportunity to review the
facts and circumstances of the Neweol Receivables Facility; and

(iii) discuss a laundry list of provisions contained in the DIP
Credit Agreement which the Committee believes are over-reaching
and, in some cases, legally impermissible impositions and
restrictions on the Court's legal and equitable powers.  

The Committee wants to be certain that the financial covenants
contained in the DIP Credit Agreement are reasonable and
attainable.  They appear too tight to the Committee at first
glance, and nothing would be worse in these cases than a default
under the DIP Facility because of overly-restrictive financial
covenants.  PricewaterhouseCoopers attempted to meet
with the Company to obtain a fuller understanding of the Debtors'
financial projections, was referred to Wasserstein, but told that
Wasserstein was too busy attending other high-level meetings.  
The Committee understands that the Company has, in fact, prepared
"seasonally adjusted" projections and delivered those to First
Union, calling the reasonability of the existing covenants into
question.  The Committee notes the management has an historical
proclivity to say it is issuing conservative projections when, in
retrospect, those projections turn out to be overly optimistic.  

The Committee is troubled by the Neweol Receivables Facility,
observing that $48,000,000 is being drawn under the DIP Facility,
thereby further encumbering the Debtors' assets, but paying an
obligation of a non-Debtor entity.  Neweol (Delaware), L.L.C., is
a non-Debtor affiliate, established finance certain receivables
of the Debtors' Operating Subsidiaries.  Bank of Montreal
(through its wholly-owned subsidiary Fairway Finance Corporation)
is the lender under the Neweol Receivables Facility and the
agent and largest lender under under $250,000,000 Prepetition
Revolving Credit Agreement.  Although borrowing under the DIP
Facility may be a cheaper source of financing for the Neweol
Receivables and a refinancing might be a good deal, the Committee
wants to take a closer look at the bona fides of the Neweol
Receivables Facility before BMo's prepetition claims are reduced
and the Debtors pay the debts of a non-debtor entity.

The Committee makes it clear that it does not object to the
Debtors putting a DIP Facility in place; the Committee
understands the need for a fresh source of liquidity.  The
Committee does, however, complain about a laundry list of over-
reaching and legally impermissible provisions, including:

(a) the proposed DIP Financing Order appears to place the DIP
Lenders beyond the reach of the Bankruptcy Court and Sections
105, 506(c) and 726 of the Bankruptcy Code.  The DIP Lender is
not, the Committee says, "above the law" and it is improper to
ask the Court to foreclose equitable remedies against the DIP
Lenders.

(b) the DIP Lenders should not have recourse to recoveries on
account of avoidance actions brought by the Debtors' estates.  
Those recoveries are for the benefit of a debtor's unsecured
creditors.  

(c) the Committee suggests that the Court should subject the fees
of:
* Morgan, Lewis & Bockius (Richard S. Toder, Esq., and Mark
Lisco, Esq.), as counsel to First Union;

* Mayer, Brown & Platt (Raniero D'Aversa, Esq.), as counsel
to Bank of Montreal;

* Ernst & Young, as accountants to Mayer, Brown & Platt; and

* O'Melveny & Myers LLP (Peter Pantaleo, Esq., and Robert
Winter, Esq.), as counsel to the Lending Syndicate;

to a review for their reasonableness and benefit to the Debtors'
estates.  

(d) the Carve-Out should be increased to provide for payment of
up to CDN$2,500,000 of Canadian professional fees and
US$10,000,000 for U.S. professional fees and the fees of the U.S.
Trustee.  Moreover, there should be no restriction on the
availability of the Carve-Out to fund investigation of BMo's
liens or other causes of action against BMo.

State Street Bank and Trust Company, in its capacity as the
successor Indenture Trustee for $1,450,000,000 of Notes issued by
the Debtors, joins in the Committee's objections to the DIP
Financing Facility and, going one step further, asks the Court to
require First Union to forego (and if already paid, disgorge) any
fees not expressly quantified in the Final Order approving the
DIP Facility.   Francis A. Monaco, Esq., of Walsh Monzack and
Monaco and Eric Henzy, Esq., of Reid and Riege, P.C., serve as
counsel to State Street in these cases. (Loewen Bankruptcy News
Issue 4; Bankruptcy Creditors' Service Inc.)


LOEWEN: Seeks Approval To Hire KPMG as Auditors and Accountants
---------------------------------------------------------------
The debtor applies to employ KPMG, LLP, as independent auditors
and as restructuring accountants.

Nunc pro tunc to June 1, 1999, the Debtors ask the Court for
authority to employ KPMG, LLP, a limited liability partnership
organized under the laws of Ontario as their independent
auditors.  The Debtors relate that KPMG has served as Loewen's
independent auditors since 1986.  To terminate KPMG's service at
this point would significantly impair the Debtors' ability to
comply with its requirements to produce and timely file
financial reports.  

David R. Gilliand leads the Loewen audit team from KPMG's
Vancouver office.  

KPMG's professionals will provide services to the Debtors at
their customary hourly rates:

               Position                         Hourly Rate
               --------                         -----------
          Partners/Managing Directors           $285 - $490
          Senior Managers                       $190 - $295
          Managers                              $135 - $270
          Other Staff Professionals              $65 - $200


Nunc pro tunc to June 1, 19999, the Debtors ask the Court for
authority to employ KPMG, Inc., as their Restructuring
Accountants in these chapter 11 cases to:

(a) advise the Debtors with respect to their preparation of
schedules of assets and liabilities, statement of financial
affairs, monthly operating reports and any other financial
reports that may be requested by the Court, the U.S. Trustee or
other parties;

(b) advise the Debtors in connection with their preparations for,
and participation in, any meetings with creditors' committees or
other constituencies in these cases;

(c) provide advice and assistance to the Debtors in connection
with their preparation of pleadings filed in these cases and the
preparation of any supporting information or schedules;

(d) provide advice and assistance to the Debtors in connection
with hearings before the Court in these cases, including advice
in the preparation of appropriate evidence and the presentation
of supporting testimony;

(e) advise the Debtors with respect to their review of financial
information needed in connection with the formulation and
preparation of any plan or plans of reorganization in these cases
and any related disclosure statements;

(f) provide advice in tax planning matters and related tax
advisory services; and

(g) provide other related consulting and advisory services in
connection with the Debtors' reorganization efforts.  

Peter D. Gibson will lead this engagement from KPMG's Vancouver
office.

Prior to the Petition Date, KPMG received a CDN$250,000 Retainer,
of which an estimated CDN$70,000 remains.  During the year prior
to the Petition Date, the Debtors paid approximately $7,170,181
to KPMG. (Loewen Bankruptcy News Issue 4; Bankruptcy Creditors'
Service Inc.)


LOGAN SQUARE EAST: Purchased by The Fountains
---------------------------------------------
The Fountains at Logan Square LLC, a subsidiary of Fountains
Continuum of Care Inc., completed its acquisition of bankrupt
Logan Square East yesterday, on schedule, according to a
newswire report. Earlier this year the bankruptcy court approved
the acquisition of the bankrupt luxury high-rise retirement
community. The Fountains paid $26.6 million in cash for the
community and assumed $30.6 million in liabilities.


MEDIA LOGIC: Trustee's Motion To Convert Case To Chapter 7
----------------------------------------------------------
The Chapter 11 Trustee in the case of Media Logic, Inc. reports
that there are no assets in the estate with the exception of
proceeds from the sale of assets to AxaFile, a promissory note
given by AxaFile to the Chapter 11 Trustee, and an undetermined
amount of preference claims.  There is no reasonable likelihood
of rehabilitation and further delay in conversion of the case
will result in loss to or diminution of the estate.


NEVADA BOB'S: Announces Intended Acquisitions
---------------------------------------------
Lyle P. Edwards, President and CEO of Nevada Bob's Canada Inc.
("Nevada Bob's Canada"), Tom Russell, President of Nevada Bob's
Pro Shop, Inc. ("Nevada Bob's Pro Shop"), and Marc Gunderson,
President and CEO of GDH International, Inc. ("GDH") announced
today that the parties are negotiating the acquisition of Nevada
Bob's Pro Shop and GDH by Nevada Bob's Canada.

Nevada Bob's Canada, Nevada Bob's Pro Shop, and GDH are
currently negotiating a definitive agreement and expect to
announce the signing of this agreement in the very near future.
Nevada Bob's Pro Shop will address the definitive agreement in
its proposed Plan of Reorganization and Disclosure Statement to
be filed in the Nevada Division of the United States Bankruptcy
Court.

The closing of the transaction is subject to shareholder approval
as well as the approval of the Bankruptcy Court and regulatory
authorities, including the Toronto Stock Exchange.

The transaction contemplates March Acquisition, Inc. ("MAI")
being the sole owner of all of the stock of Nevada Bob's Pro Shop
and the acquisition of MAI and GDH by Innovative Sports
Solutions, Inc. ("ISS") through an exchange of stock. Under
current negotiations, Nevada Bob's Canada proposes to acquire all
of the stock of ISS through the issuance of stock and
warrants.

The definitive agreement provides that new directors representing
the interests of the acquired companies would be added to the
Board of Directors of Nevada Bob's Canada. In addition, the
current management team of Nevada Bob's Canada would retain
primary management responsibility for the combined company. Lyle
P. Edwards, President and CEO of Nevada Bob's Canada, and Martin
Bunting, COO and Executive Vice President of Nevada Bob's Canada,
would continue in their current roles.

The transaction will result In Nevada Bob's Canada becoming a
world wide integrated golf company, owning the world wide rights
to the "Nevada Bob's" name and franchise operations. In addition,
Nevada Bob's Canada will add the Tourshot, Magnesport and Alien
Sport brands to its product line. This transaction is part of
Nevada Bob's commitment to grow its strong brand recognition and
earning capacity.

The Toronto Stock Exchange has neither approved or disapproved of
the information contained herein.


NEWCARE HEALTH: Chapter 11 Triggers Default
-------------------------------------------
The June 23 chapter 11 filing of Newcare Health Corp. has forced
one municipal bond issuer into default and may cause more missed
payments, according to the trustee involved in the case, Bond
Buyer reported. The disclosure of a default on a 1985 bond issued
by the Tyler Health Facilities Development Corp. is one of eight
Newcare-related bond issuers handled by trustee Sentinel Trust
Co. of Nashville. D.N. Bates, president of Sentinel Trust, said
"There may be a ripple effect, so I wouldn't be surprised if
other corporate entities get pulled into this. There's a
substantial number of related entities." Newcare's bankruptcy
filing list 22 companies, partnerships and non-profit entities,
the filing does not include a breakdown of the outstanding
municipal debt those organizations backed.


PAGE AMERICA: Bar Date Set For August 2, 1999
---------------------------------------------
The US Bankruptcy Court for the Southern District of New York
entered an order providing that any holder of a claim against the
debtors must file a written proof of such claim so it is received
not later than 5:00 PM, August 2, 1999.


PAGE AMERICA: Seeks Final Order Approving Stroock & Stroock
-----------------------------------------------------------
The debtors, Page America Group, Inc., et al., debtors, seek an
order authorizing them to retain Stroock & Stroock & Lavan LLP as
general bankruptcy counsel to the debtors.  

The firm will provide the following services:

Advise the debtors with respect to their rights, powers and
duties as debtors in the continued management of their property
until liquidation;

Take legal steps needed to confirm the plan

Assist the debtors in liquidating their estates;

Prepare and file all necessary applications, motions, orders,
reports, adversary proceedings, responses and other pleadings and
documents;

Appear in court to protect the interests of the debtors;

Analyze claims and negotiations with creditors on behalf of the
debtors

Perform all other legal services for the debtors.

The attorney with primary responsibility for this case is Robin
E. Keller, at the hourly rate of $470.


PAGE AMERICA: Summary of Plan
-----------------------------
The pre-packaged Chapter 11 liquidating plan of reorganization of
the debtors provides for the complete liquidation of the debtors
and distribution of their remaining assets to creditors and
shareholders.

A hearing to consider the adequacy of the Disclosure Statement
will be held on August 10, 1999 at 9:30 AM before the Honorable
Jeffry H. Gallet, Room 523 One Bowling Green, NY.

Treatment of each class is summarized as follows:

Class 1 - Subordinated Note Claims - Voted to Accept the plan.  
Impaired
Holders shall receive 70% of all amounts available after all
other allowed claims are paid; and thereafter 50% of all assets
available.

Class 2 - General Unsecured Claims - Unimpaired. Holders will
receive 100% of claims.

Class 3 - Preferred Stock Interests - Impaired. Shall receive pro
rata with the holders of subordinated notes, 21% of all amounts
available for distribution after all non-Class 1 allowed claims
have been paid, payable in cash to the extent available with the
balance payable in shares of common stock of Metrocall, Inc.
After payment of all claims,
Class 3 holders shall receive 35% of any remaining assets
available.
Voted to accept plan.

Class 4 - Common Stock Interests Impaired. Will receive 9% of all
amounts available after Class 1 allowed claims are paid.  After
satisfaction of all claims, Class 4 holders shall receive 15% of
any remaining assets.  Deemed to Reject Plan.


PARAGON TRADE: Committee Supports Terms of Investment
-----------------------------------------------------
The Official Committee of Unsecured Creditors of Paragon Trade
Brands, Inc. responds in support of the debtor's motion to
approve expense reimbursement, termination fee and bidding
procedures in connection with the proposed equity investment by
Wellspring Capital Management LLC, dated June 11, 1999.

The Committee states that in the aggregate, the expense
reimbursement and potential termination fee are less than 1% of
the debtor's enterprise value of $325 million, as contemplated by
the Wellspring Proposal.

The Committee states that the approval of the motion will further
the efforts of all parties in interest to formulate a plan of
reorganization for the debtor.


RAINTREE HEALTHCARE: Will Not Make $1.3 Million Interest Payment
----------------------------------------------------------------
RainTree Healthcare Corporation (formerly Unison HealthCare
Corporation) announced today that it will not make its $ 1.3
million interest payment due on July 1, 1999, on the Company's
11% Senior Secured Notes due 2003, which were issued as part of
the Company's reorganization. The Company stated that the higher
than expected administrative costs involved in bringing the
Company out of bankruptcy, the costs of the Company's
reorganization, and the negative impact that the bankruptcy has
had on census at the Company's facilities have resulted in
insufficient cash flow to make the payment at this time. RainTree
has a 45-day grace period, which extends the deadline for making
the interest payment to August 14, 1999. Michael A. Jeffries,
president and chief executive officer of RainTree Healthcare
said, "We regret the circumstances that have led to our not
making this interest payment at this time. The costs associated
with the bankruptcy and the reorganization have been greater than
expected and have resulted in a cash shortage. In addition, the
bankruptcy has had a negative impact on our census, and the
Company has not had sufficient time to rebuild the census to the
pre-bankruptcy level. We feel we have made significant progress
in improving operations since our reorganization, but the timing
of the interest payment has forced us to consider other options,
including possible strategic combinations." RainTree Healthcare
Corporation is a provider of quality long-term and specialty
healthcare services. The Company provides a broad range of
healthcare services including nursing care, rehabilitation
therapy, pharmacy and other specialized services, primarily to
subacute patients. The Company currently operates 37 skilled
nursing facilities and four independent living facilities,
representing 4,020 beds.
  

READING CHINA: Seeks Approval of Sale
-------------------------------------
Reading China and Glass, Inc. And RCGTM, Inc. seek entry of an
order scheduling a hearing to approve the sale by Reading China
and RCGTM of a certain parcel of nonresidential real property
located in the Pencader Corporate Park, Parcel 27, commonly known
as 100 Lake Drive, Newark, Delaware 19711, (an office and
warehouse facility thereon) and three leases for retail space,
tangible and intangible personal property to Jay R. Brinsfield,
the debtors' primary shareholder , CEO of Reading China and
Chairman of Reading China's Board of Directors for $3.33 million.  
A hearing will take place on July 21, 1999 at 3:00 PM.  Competing
bids must provide an offer of at least $3.5 million.  Additional
overbids must be in increments of $25,000.


RENAISSANCE COSMETICS: Brings $29M At Auction As One Unit
---------------------------------------------------------
Renaissance Cosmetics Inc. has been sold to a private investment
partnership for $29 million after a boisterous auction in a hotel
in Wilmington, Del., that went on for six hours, involved
some 25 bidders and was attended by about 100 people. "We
couldn't be more pleased," said Steven Victor of Development
Specialists Inc., the turnaround firm brought in to manage
Renaissance Cosmetics. "This [$29 million] is the mid-point of
the range we had guessed at. It's certainly between the
liquidation and operating valuations." The auction of the company
was divided into seven components -- six individual parts and
offered for sale as a whole. Most of the bids involved a part of
the company, or combined parts of the company, but in the end,
the winning bid was for the company in total. The buyer,
Dimeling, Schreiber & Park, specializes in "opportunistic
investments primarily in the form of leveraged acquisitions,
recapitalizations and Chapter 11 reorganizations," according to
the firm's web site. (The Daily Bankruptcy Review and ABI
Copyright c July 2, 1999)


TELEPAD CORP: Committee Taps Blank Rome Comisky & McCauley LLP
--------------------------------------------------------------
The Official Committee of Unsecured Creditors applies to the
court for an order authorizing the employment of Blank Rome
Comisky & McCauley LLP as counsel for the Committee. The
attorneys who will be working for the Committee charge hourly
rates ranging from $180 per hour to $270 per hour.


WEINER'S STORES: Announces Changes in Senior Management
-------------------------------------------------------
Weiner's Stores Inc. (OTC BB:WEIR) announced that Jerome L.
Feller, vice president and general merchandise manager, has
announced he is leaving the Company to pursue other business
interests.  Joseph J. Kassa, vice president, marketing, sales
promotion and real estate, will succeed Feller and was named
senior vice president, general merchandise manager, said Herbert
R. Douglas, chairman, president and chief executive officer of
the Company.

At this time, the Company has announced several other corporate
promotions: Raymond J. Miller, vice president, chief financial
officer has been promoted to executive vice president, chief
operating officer and chief financial officer.

James L. Berens, vice president, stores has been promoted to
senior vice president, stores & operations. Berens has been with
the Company since 1996.

Michael S. Marcus, controller and treasurer, has been promoted to
vice president, controller and treasurer. Marcus has been with
the Company since 1997.

Michael Klaiman, divisional merchandise manager, shoes & bed bath
etc., has been promoted to vice president, divisional merchandise
manager, shoes & bed bath etc.

Weiner's is a neighborhood family retailer that offers a complete
assortment of branded products for value-conscious consumers.
Currently, approximately 3,500 associates are employed at the 132
stores.


WESTMORELAND COAL: Expects To Conduct Additional Tender Offer
-------------------------------------------------------------
Westmoreland Coal Company (Amex: WLB, WLB_p) announced today
that it expects to conduct an additional tender offer at $19 per
depositary share for approximately 600,000 shares, the amount by
which its tender offer earlier this year was oversubscribed. That
tender offer was conducted pursuant to a settlement agreement
entered into with the Official Committee of Equity Security
Holders, the United Mine Workers of America ("UMWA"), and certain
UMWA health benefit and pension plans that facilitated
Westmoreland's dismissal from Chapter 11, but which limited the
tender offer to $20 million (or 1,052,631 shares at $19 per
share) and prohibited further distributions of any kind to
shareholders through yesterday, June 30, 1999. Each depositary
share represents one quarter of a share of the Company's Series A
Convertible Exchangeable Preferred Stock.

The schedule and details of the tender offer have not been
finalized, but it is the Company's intention to commence the
tender offer as soon as practicable. On June 30, the depositary
shares closed at $18-1/4 per share.

The Westmoreland Board considers resolution of issues related to
future preferred stock dividends and accumulated but unpaid
preferred dividends a priority in the continued revitalization of
the Company. The oversubscription of the earlier tender offer
indicates that depositary shareholders wished to tender a
significant number of additional shares under the terms of that
offer. The Company wants to accommodate this demand
and believes that doing so benefits its other shareholders by
reducing the overhang of existing accumulated but unpaid
preferred dividends and future quarterly dividends on an
attractive economic basis.

Going forward, the Board will continue to review the payment of
preferred dividends and accumulated but unpaid preferred
dividends as it evaluates the business opportunities available to
the Company. The Board's highest priority will continue to be
increasing value for all shareholders. In light of these
considerations, the additional tender offer is the only action
the Company intends to take with respect to preferred dividends
and accumulated but unpaid preferred dividends at this time, and
it appears that in the near term most other available cash should
be used for reinvestment rather than distributed in order to
enhance the long-term value of the Company for all shareholders
and maintain compliance with the Master Agreement. The tender
offer will be in lieu of the resumption of preferred
dividends or payment of accumulated but unpaid preferred
dividends at this time.

The Company is subject to continuing financial ratio tests, the
payment of retiree health benefits and other obligations pursuant
to the Master Agreement as well as to provisions of Delaware law
applicable to a corporation's payment of dividends. The Company's
obligations under the Master Agreement are secured by a declining
balance contingent note through 2005 under the terms of that
agreement.

Westmoreland Coal Company, headquartered in Colorado Springs,
Colorado, emerged from Chapter 11 on January 4, 1999 satisfying
all debt obligations with interest and with its shareholders'
interests undiluted. The Company is currently engaged in western
coal mining through its 80% owned subsidiary Westmoreland
Resources, Inc. and independent power production through its
wholly-owned subsidiary Westmoreland Energy, Inc. The Company
also holds a 20% interest in Dominion Terminal Associates, a coal
shipping and terminal facility in Newport News, Virginia.


WIRELESS ONE: Bar Date Set For July 23, 1999
--------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order setting July 23, 1999 as the general claims bar date in the
Chapter 11 case of the debtor, Wireless One, Inc.


BOND PRICING FOR WEEK OF JUNE 28, 1999
======================================
Following are indicated prices for selected issues:

Acme Metal 10 7/8 '07                   11 - 13 (f)
Amer Pad & Paper 13 '05                 62 - 64
Asia Pulp & Paper 11 3/4 '05            78 - 79
Boston Chicken 7 3/4 '05                 5 - 6 (f)
E & S Holdings 10 3/8 '06               52 - 55
Geneva Steel 11 1/2 '01                 21 - 22 (f)
Globalstar 11 1/4 '04                   67 - 69
Hechinger 9.45 '12                      11 - 13 (f)
Iridium 14 '05                          19 - 21
Jitney-Jungle 10 3/8 '07                33 - 36
Loewen 7.20 '03                         61 - 63 (f)
Planet Hollywood 12 '05                 20 - 23 (f)
Samsonite 10 3/4 '08                    80 - 82
Service Merchandise 9 '04               21 - 22 (f)
Sterling Chemical 11 3/4 '06            76 - 78
Sun Healthcare 9 1/2 '07                17 - 20 (f)
Sunbeam 0 '18                           16 - 17
TWA 11 3/8 '06                          61 - 63
Vencor 9 7/8 '05                        30 - 32 (f)
Zenith 6 1/4 '11                        22 - 25 (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 in each Friday edition of the TCR, is
provided 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, Yvonne L. Metzler and Lexy Mueller, Editors.
Copyright 1999. 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  * * *