TCR_Public/991112.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
       
      Friday, November 12, 1999, Vol. 3, No. 220
                     
                     Headlines

ALTA GOLD: Announces Third-Quarter 1999 Results
AXIOHM: Files Chapter 11
BREED TECHNOLOGIES: Committee Taps Houlihan, Lokey
BREED TECHNOLOGIES: Seeks To Retain Bifferato Firm
CFS: Plan Filing Exclusivity Extended to Dec. 31  

CLARIDGE CASINO: To Pursue Reorganization Plan
CLARIDGE CASINO: Seeks To Retain GVA Marquette Advisors
EVANS: To Sell Assets to Birger Christensen
FLORIDA COAST: Seeks To Extend Bar Date
FORMAN PETROLEUM: Committee Objects To Disclosure Statement

GREATER WASHINGTON: One More Day
KIWI AIRLINES: On Verge of Liquidation
LONDON FOG: Seeks Extension To Assume/Reject Leases
LONDON FOG: Seeks To Implement Employee Retention Plan
NU-KOTE HOLDING: Settlement With Hewlett-Packard

PACIFIC INTERNATIONAL: Signs Agreement for $1M Line of Credit
PARCEL CONSULTANTS: Auction Sale and Sale Confirmation Hearing
PHILIP SERVICES: Reports Third Quarter Results
PRINCETON HOSPITAL: Applies To Employ Horne CPA Group
PURINA MILLS: Tentative Agreement For $60 Million From Parent

RENAISSANCE COSMETICS: Committee Taps Ernst & YOung
SANYO AUTOMOTIVE: Taps Special Corporate Counsel
SHOE CORP: Order Extends Exclusivity
STUART ENTERTAINMENT: Disclosure Statement in Support of Plan
WESTSTAR CINEMAS: Committee Taps Co-Counsel

BOND PRICING FOR WEEK OF NOVEMBER 8, 1999

                     *********

ALTA GOLD: Announces Third-Quarter 1999 Results
-----------------------------------------------
Alta Gold Co. (OTCBB:ALTAQ) announced results for the third
quarter ended Sept. 30, 1999.  For the third quarter of 1999, the
company reported a net loss of $ 5,491,000 ($ 0.16/share) from
revenue of $ 3,000,000, as compared with a net income of $
696,000 ($ 0.02/share) from revenue of $ 5,237,000 for the third
quarter of 1998.  For the nine months ended Sept. 30,
1999, the company reported a net loss of $ 7,610,000 ($
0.23/share) from revenue of $ 16,730,000, as compared with a net
income of $ 1,176,000 ($ 0.03/share) from revenue of $ 12,082,000
for the nine months ended Sept. 30, 1998.  Revenue fell during
the third quarter of 1999 due to the company's decision to
suspend mining, crushing and milling operations at Olinghouse in
order to maintain short-term liquidity, as well as to an
unanticipated and precipitous deterioration in the gold recovery
rate at Griffon, which further necessitated the recording of a
non-cash $ 2,168,000 write-down in the third quarter of 1999.
The downturn in the company's profitability is the result of
multiple factors, including: (1) the Griffon write-down, (2)
interest and associated costs incurred on the company's debt, (3)
lower than expected gold production and higher than expected unit
costs at Olinghouse, (4) the precipitous decrease in gold
production at Griffon, (5) the comparative deterioration in the
price of gold and (6) costs incurred in regard to the company's
bankruptcy proceedings. On April 14, 1999, the company filed a
voluntary petition for relief under the provisions of Chapter 11
of the Bankruptcy Code.  On Sept. 8, 1999, the Bankruptcy Court
denied the company's request to extend the bankruptcy
exclusivity period and also approved the retention of a special
sales agent to assist in raising additional capital through the
sale of various assets.  No assurance can be given that either
the company or the sales agent will be able to complete the
necessary transactions to allow the company to continue to
operate. In the event such transactions are not consummated
within a very short period of time, the company is not expected
to be able to continue as a going concern.  Alta Gold is engaged
in the exploration, development, mining and production of gold on
properties in Nevada. The company also has three base metals
properties in the Western United States that are in various
stages of development.


AXIOHM: Files Chapter 11
------------------------
The San Diego Union-Tribune reports on November 10, 1999,
That when Axiohm Transaction Solutions acquired San Diego's DH
Technology for $189 million in 1997, one executive said the all-
stock deal posed "some very good synergies" that offered
"significant savings."

Unable to pay the debt incurred in the DH Technology buyout,
Axiohm asked a federal bankruptcy judge in Delaware on Monday to
oversee a reorganization of the company's U.S. operations.
The price of Axiohm shares has been falling since Aug. 12, 1997,
about a month after the DH Technology deal was announced, when
the stock peaked at $24 a share.  On November 9, 1999, Axiohm's
stock closed at 27 cents per share.

Axiohm, which makes specialized printers used in automated teller
machines and other equipment, attributed its bankruptcy filing to
lagging sales, problems with debt payment and losses.  The
company listed $225.8 million in debts and $153.6 million in
assets.

Under the reorganization plan, Axiohm's common stock will be
canceled. Existing shareholders may receive some future benefit,
contingent on Axiohm's success in the years after its corporate
restructuring.

Axiohm filings with the Securities and Exchange Commission
indicate that several insiders sold shares before the company
filed its bankruptcy petition.  Axiohm has about 1,500 employees
in the United States.

The bankruptcy plan calls for the conversion of about $120
million in subordinated debt to shares of stock in the
reorganized company, Axiohm said. The company plans to
permanently restructure an additional $80 million in bank
debt.

A group of banks led by Lehman Brothers Commercial Paper Inc. has
agreed to provide Axiohm with as much as $20 million in
additional financing for working capital.  Because of its
creditors' support, Axiom plans to emerge from its
reorganization during the first three months of next year.


BREED TECHNOLOGIES: Committee Taps Houlihan, Lokey
--------------------------------------------------
The Official Committee of Unsecured Creditors of Breed
Technologies, Inc., et al. seeks authority to employ and retain
Houlihan, Lokey, Howard & Zukin Capital as financial advisors to
the Committee.

The Engagement letter provides in part that the firm will be paid
a fee of $100,000 per month for the first three months and
$85,000 per month thereafter. In addition Houlihan Lokey will be
paid a deferred fee in the amount equal to 1% of the aggregate
consideration received by the unsecured creditors of the debtors
in connection with a Restructuring Transaction, as defined in the
Engagement Letter.

The firm will provide the following services:

Analyze and review the financial and operating statements of the
debtors and their subsidiaries;

Analyze the business plans and forecasts of the debtors and their
subsidiaries;

Provide specific evaluation analyses and debt capacity analysis;

Evaluate the sale process of the debtors and their subsidiaries;

Devise appropriate strategies to maximize the value to be
received by the unsecured creditors in the case;

Assess the financial issues and options concerning the debtors'
plan;

Explain the plan to various constituencies, and provide testimony
if necessary.

By separate motions, the Committee seeks to employ Cadwalader,
Wickersham & Taft as attorneys and Ashby & Geddes as Delaware
Counsel.


BREED TECHNOLOGIES: Seeks To Retain Bifferato Firm
--------------------------------------------------
The debtors, BREED Technologies, Inc. et al. seek authority to
retain and employ Bifferato, Bifferato & Gentilotti as local
counsel in connection with the prosecution and defense of certain
adversary proceedings in the debtors' bankruptcy cases.  The two
separate adversary proceedings involve General Motors Corporation
and Allied Signal.  The firm will bill according to its customary
hourly rates.


CFS: Plan Filing Exclusivity Extended to Dec. 31  
------------------------------------------------
Fearing that the filing of competing liquidating plans of
reorganization in Commercial Financial Services Inc.'s case would
"further polarize the committees rather than moving them toward
consensus," the judge overseeing the matter extended the
company's exclusive plan filing period to Dec. 31 and struck down
the plan recently proposed by the asset-backed security holders'
committee. (The Daily Bankruptcy Review and ABI November 11,
1999)


CLARIDGE CASINO: To Pursue Reorganization Plan
----------------------------------------------
The Claridge Hotel and Casino Corporation operates the Claridge
Casino Hotel through its subsidiary, The Claridge at Park Place,
Incorporated.

On July 8, 1999, the Corporation signed a Letter of Intent with
Schottenstein Realty Incorporated, for funding a joint Chapter 11
plan of reorganization. After careful consideration, the Board of
Directors of the Corporation has determined that it is in the
best interest of its creditors to file a separate and independent
stand alone plan of reorganization. Accordingly, the Corporation
will no longer pursue the relationship contemplated by the July
8, 1999, Letter of Intent.  As the Corporation prepares to file
its plan of reorganization, it will continue to consider
alternate strategic initiatives.

On August 16, 1999, The Claridge Hotel and Casino Corporation and
The Claridge at Park Place, Incorporated filed voluntary
petitions under Chapter 11 of the U.S. Bankruptcy Code in order
to facilitate a financial restructuring.  The Claridge Casino
Hotel opened in July, 1981 and has 59,000 square feet of
casino gaming space.  The Claridge Hotel and Casino Corporation
is a closely-held public corporation and is the issuer of $85
million of 11-3/4% First Mortgage Notes which are publicly traded
on the New York Stock Exchange under the symbol CLAR02.


CLARIDGE CASINO: Seeks To Retain GVA Marquette Advisors
-------------------------------------------------------
The debtor, The Claridge at Park Place, Incorporated, seeks
authority to employ and retain GVA Marquette Advisors, Inc. as
appraisers and valuation consultants to the debtor.  

GVA Marquette has requested a $35,000 initial retainer from the
debtor.  The debtor asserts that the value of the Casino may
become a central issue in this case, and one that the court may
be required to consider at a later date.  Consequently the debtor
believes that the preparation of an appraisal for the real estate
and on-going casino operations is significant.


EVANS: To Sell Assets to Birger Christensen
-------------------------------------------
Fur merchandiser Evans Inc., which filed for bankruptcy
protection last month, announced that it has agreed to sell its
assets to Birger Christensen for about $14.2 million, according
to a newswire report. The deal can be voided if there is a higher
bidder at the Nov. 24 auction. The agreement is subject to the
bankruptcy court's approval. (ABI 11-Nov-99)


FLORIDA COAST: Seeks To Extend Bar Date
---------------------------------------
The debtors, Florida Coast Paper Holding Company, LLC and its
affiliates seek to extend the last day by which all creditors
must file a proof of claim to November 19, 1999.

The debtors seek the extension due to an error in the original
notice of the claim agent's address.


FORMAN PETROLEUM: Committee Objects To Disclosure Statement
-----------------------------------------------------------
The Official Committee of Unsecured Creditors objects to the
Joint Disclosure statement to the First Amended Joint Plan of
Reorganization proposed by Forman Petroleum Corporation and
Noteholder Plan Proponents.  

The Committee alleges that the Disclosure Statement does not
contain "adequate information."  The Committee lists specific
objections including:

The Disclosure statement does not contain  information, exhibits
or schedules identifying the executory contracts and unexpired
leases that the debtor intends to assume or reject, setting forth
estimated cure amounts, or estimated claims resulting from the
rejection of the contracts or leases.  

The debtor has failed to provide adequate information regarding
insider transactions.

The Disclosure Statement does not sufficiently describe the
indemnity obligations of the reorganized debtor and the effect on
the debtor's future viability.

The Disclosure statement states that the debtor will release
causes of action but does not identify the specific causes of
action that will be released.

The Disclosure Statement does not describe the Jeffries
litigation in sufficient detail.

The Disclosure Statement fails to disclose when the debtor and
noteholders first retained professionals with respect to filing
for relief under the Code.

The Disclosure Statement fails to disclose why trade debt was not
paid in full, and why trade creditors were not advised of the
agreement between certain noteholders and the debtor during the
time trade creditors were extending credit that a bankruptcy
would be filed and trade creditors extending credit would not
receive payment in full.

The Disclosure statement fails to adequately disclose the level
of control Trust Company of the West had over the debtor and any
instructions TCW gave the debtor not to pay unsecured debt.

Adequate disclosure has not been made of representations made to
trade creditors to the effect that 100% of all trade debt would
be paid.

The Disclosure statement does not describe future director or
insider compensation with respect to the future management of the
debtor.

The Disclosure Statement fails to provide any sort of analysis or
evaluation of claims the debtor may have against its insiders,
agents, directors or officers.

The Disclosure Fails to disclose a lien in the amount of $2.7
million filed by New Park Performance Service, Inc. and the
proposed treatment of the lien under the plan.


GREATER WASHINGTON: One More Day
--------------------------------
The Washington Times reports on November 11, 1999, that Greater
Southeast Community Hospital has until tomorrow to seal a $ 21
million deal that would rescue the hospital from bankruptcy.
Federal bankruptcy Judge Martin S. Teel Jr. has scheduled the
hearing to resume today, a federal holiday, in hopes of resolving
the dragging dispute.  While the hospital has reached an
agreement with the buyer, Scottsdale, Ariz.-based Doctors
Community Healthcare Corp. and Daiwa Bank, a leading creditor,
other creditors continue to criticize the sale.

The hospital needs to find a buyer or it will go out of business,
hospital officials say. Greater Southeast filed for Chapter 11
bankruptcy protection in May and has about $ 70 million in debts.
In another step toward a deal, the District agreed to yield to
Doctors Community in seeking repayment if the hospital defaults
on loans to keep it in business. The move was necessary for the
deal, Doctors Community officials said. The city had a priority
claim on a $3.1 million loan to the hospital, but the Arizona
company said it needed to be first in line to recover a $3.5
million loan that would finance the hospital until the deal
closed.  However, another city move has hurt the hospital. The
District diverted ambulances to other hospitals from Saturday
night until 2 p.m. Monday, a District official said. The hospital
admits 70-80 percent of its patients by ambulance.

The diversion played a large role in the decline of the
hospital's patient count. About 140 patients are in the 280-bed
hospital; two weeks ago, there were 176 patients.  The city put
its ambulances "needlessly on divert," said Steve Nathan, the
hospital's acting chief executive officer.  Greater Southeast was
too understaffed to accept ambulances then, said Dr. Fernando
Daniels, interim director of the District's Emergency Medicine
Service.

"If a patient came in (critical condition) they might not have
been able to take care of them," Dr. Daniels said.  The city
stopped re-routing the ambulances after he visited the hospital
and said it was safe to do so, he said.  The judge approved a
motion to give the hospital $ 550,000 so it could continue
operating through tomorrow.


KIWI AIRLINES: On Verge of Liquidation
--------------------------------------
Kiwi International Air Lines, grounded since March and on the
verge of liquidation, may fly again as a charter service.
Executive JetPort of New Jersey, which services and fuels
aircraft at Trenton-Mercer Airport, plans to ask a bankruptcy
judge next week for permission to buy Kiwi's name and suspended
flight certificate for about $6 million, JetPort president and
chief executive Thomas E. Patterson said Wednesday.

JetPort proposes to operate Kiwi as a charter service to Las
Vegas, initially with one Boeing 727 flying from Trenton-Mercer
in Ewing, Philadelphia or Kiwi's old base at Newark International
Airport, Patterson said.

"We feel that the name has very good recognition, whether it be
positive or negative," Patterson said. "The customer base still
feels very good about the airline, even though it got into
financial trouble."

If JetPort receives permission from U.S. Bankruptcy Judge
Rosemary Gambardella, it still would require approval from the
U.S. Department of Transportation and then the Federal Aviation
Administration before it could begin flying.

At its peak in the mid-1990s, the Newark-based airline had 1,200
employees, 15 leased jets and flew 65 flights a day. Its
destinations, at various times, included Atlanta, Bermuda,
Boston, Chicago, Las Vegas, Puerto Rico, and Miami, Orlando,
Tampa and Palm Beach in Florida. Kiwi, now in bankruptcy
proceedings for the second time, struggled since its
founding in 1992 by airline employees who had lost their jobs at
other carriers, mostly Pan Am and Eastern.

The founders chose the name of a flightless bird for their
employee-owned enterprise to symbolize the loss of their wings at
their old airlines. It emerged two years ago from its first
bankruptcy when Baltimore surgeon Charles C. Edwards bought the
airline and took majority ownership of the company from the
employees.  But the Federal Aviation Administration grounded it
in March, saying it was unable to fly safely. Kiwi sought
protection under Chapter 11 of the bankruptcy laws, hoping to
reorganize, and laid off nearly all of its 500 workers and
surrendered its four leased jets.

Pan Am Airways had offered to buy Kiwi in March for $3 million,
but that plan collapsed when Kiwi could not immediately regain
its flight certificate. In September, Kiwi sought Gambardella's
permission to convert the bankruptcy to Chapter 7, liquidation,
claiming more than $20 million in debts.  A hearing on that
request has been delayed while the court-appointed bankruptcy
trustee, Charles A. Stanziale Jr., sought a buyer.


LONDON FOG: Seeks Extension To Assume/Reject Leases
---------------------------------------------------
The debtors, London Fog Industries, Inc. et al seek a 90-day
extension of the period within which the debtors may assume or
reject unexpired leases of nonresidential real property, to and
including February 28, 2000.  The debtor believes that the
request is reasonable in that the liquidation agent ahs the right
to conduct store closing sales at the 108 store closing locations
through February 16, 2000 and the debtors' initial exclusive
period to file plans of reorganization runs through January 26,
2000.  Unless extended, the Assumption/Rejection period will
expire on November 26, 1999.  It would be premature for the
debtors to make a determination at this time.

The debtors are currently assessing the viability of the
remaining store locations, together with the value of the
underlying retail store leases to the debtors' estates.


LONDON FOG: Seeks To Implement Employee Retention Plan
------------------------------------------------------
London Fog Industries, Inc. and certain subsidiaries seek
authority to implement and Employee Retention Plan.  The
Committee supports the plan which provides "stay-put" incentives
and/or severance protection to certain key executives, manager
and employees.  The maximum aggregate amount payable under the
proposed Employee Retention Plan is $3,514,633.


NU-KOTE HOLDING: Settlement With Hewlett-Packard
------------------------------------------------
Nu-Kote Holding Inc. and its affiliates seek approval of
compromise and settlement as proposed by and between Nu-kote and
Hewlett-Packard Company.

Pursuant to the terms of the settlement, Hewlett-Packard shall be
granted a total sum of $5,529,451.  Nu-kote agrees to the entry
of certain injunctions against further patent infringement,
trademark infringement and false advertising.


PACIFIC INTERNATIONAL: Signs Agreement for $1M Line of Credit
-------------------------------------------------------------
Pacific International Enterprises Inc. (OTC BB:PCIE - news)(OTC
BB:PCIEQ - news) and its "The France Group" Division in
Goldendale, Wash. is a 300,000 unit capacity, state-of-the-art,
board sports manufacturing operation, which includes the in-house
brands Twenty Four Seven Snowboards (www.247snow.com), Wake Tech
Wakeboards, Rift Snowboards and Microski.  24/7 Snowboards'
racing program is acclaimed worldwide, with Olympic Gold Medalist
Ross Rebagliati signed to an exclusive snowboard promotional
contract through the 2002 Olympics.  PCIE and ALCO Financial
Services LLC of Larkspur, Calif. have signed the final loan
agreement concerning loans and other credit accommodations to be
provided to PCIE in an initial amount of $ 1 million and
management is submitting that document to the Chapter 11 Court on
an emergency basis.  The credit facility will provide interim
financing for up to $ 1 million against L/C's and A/R's presented
by PCIE to ALCO. The loan closing date is set to occur within 48
hours of receipt of the court's approval of the loan agreement.  
Anthony D. Broughton, CFO of PCIE, stated, "We are extremely
pleased to have executed this agreement and to be able to bring
it before the court. We started these negotiations at the same
time that we filed for Chapter 11, Sept. 7, 1999. Obtaining a
final position that was satisfactory to PCIE and the many
parties, although time consuming and complex, is now final. We
look forward to expediting the related aspects of our
reorganization plan."


PARCEL CONSULTANTS: Auction Sale and Sale Confirmation Hearing
--------------------------------------------------------------
By legal notice published in The Wall Street Journal, November
11, 1999, an auction will be conducted on December 9, 1999 at
10:00 AM for a sale of substantially all of the assets of Parcel
Consultants, Inc., National Tele-Communications, Inc. and Minimum
Rate Pricing Inc., debtors.

Any bidder desiring to submit a bid at the auction shall send a
letter of interest to debtors' counsel and shall be qualified by
the debtors.  Qualified bidders shall deliver such bid in writing
to the debtors, debtors' counsel, counsel for OAN Services, Inc.,
Counsel for WorldCom Network Services, Inc., counsel for Access
Capital, Inc. and counsel for the Official Committee of Unsecured
creditors no later than December 6, 1999 at 12:00 noon.

The court shall conduct a hearing upon the conclusion of the
auction to consider entering an order authorizing and approving
the emergency sale of the assets, and the asset purchase
agreement.

All requests for information concerning the assets should be
directed to Mr. Bryan L. Engle, CEO at National Tele-
Communications, Inc. 150 Commerce Road, Cedar Grove, NJ 07009.


PHILIP SERVICES: Reports Third Quarter Results
----------------------------------------------
Philip Services Corp. (TSE:PHV.) (ME:PHV.) today announced
its financial results for the third quarter ended September 30,
1999. All currency figures are stated in U.S. dollars. Results
have been presented according to U.S. generally accepted
accounting principles.

"While the Company's overall performance in the third quarter was
unsatisfactory, it took place within the confines and demands of
a financial reorganization," said Anthony Fernandes, President
and Chief Executive Officer. "We held market share and overall we
also performed according to plan. Our profitability improved in
key businesses such as our ferrous operations under very
difficult circumstances. I am proud of our people for their
exceptional efforts. We are on schedule to emerge from our
financial reorganization by early December with a fresh start and
a solid platform for growth."

Summary of Third Quarter 1999 results - Revenue from continuing
operations was $ 358.1 million.

The net loss from continuing operations was $ 16.3 million.
Including reorganization costs of $ 64 million, the net loss was
$ 80.2 million ($ 0.61 per share), compared to a net loss in the
third quarter of 1998 of $ 498.6 million ($ 3.80 per share).

- The Company's ferrous operations realized a marked improvement
in profitability on revenue of $ 139.2 million. The income from
operations for the ferrous operations was $ 4.0 million, an
increase of $ 6.1 million from the same period in 1998 and an
increase of $ 1.2 million compared to the second quarter
of 1999.

- Revenue from the By-Products Recovery business increased by 17%
over the second quarter of 1999 to $ 39.1 million. The income
from operations improved with earnings of $ 0.9 million compared
with a loss of $ 1.9 million in the second quarter of 1999.

- Revenue from the Company's other Industrial Services businesses
was $ 174.5 million, a decrease of 15% from the second quarter of
1999, while loss from operations increased to $ 15.6 million from
$ 4.3 million in the second quarter. While these businesses are
affected by lower seasonal demands for their services during the
summer months, clients have also declined to consider awarding
scheduled maintenance projects to the Company until it emerges
from its financial reorganization.

Revenue from continuing operations for the third quarter of 1999
was $ 358.1 million, an increase over the second quarter of 1999,
but a decrease of $ 64.8 million from the revenue reported in the
same period in 1998, of which $ 20 million related to revenue
from businesses sold in early 1999. The net loss from continuing
operations was $ 16.3 million for the third quarter of 1999.
Including reorganization costs of $ 64 million, the net loss was
$ 80.2 million ($ 0.61 per share), compared to a net loss in the
third quarter of 1998 of $ 498.6 million ($ 3.80 per share).
Special charges of $ 356.6 million were included in the 1998
third quarter loss.

Revenue from continuing operations for the nine months ended
September 30, 1999 was $ 1.06 billion compared to $ 1.5 billion
for the nine months ended September 30, 1998. Over $ 150 million
of this revenue decrease is attributable to the sale or exit of
non-core businesses. The net loss from continuing operations was
$ 47.7 million for the nine months ended September 30, 1999.
Including reorganization costs of $ 78.4 million and accrued but
unpaid interest of approximately $ 50 million, the net loss was $
182.3 million ($ 1.39 per share). Special charges of $ 356.6
million were included in the loss from continuing operations of $
487.4 million ($ 3.72 per share) for the nine months ended
September 30, 1998.

Corporate costs, excluding professional fees, for the third
quarter of 1999 were $ 4.2 million compared to $ 12.8 million in
the third quarter of 1998, largely the result of the closing of
redundant offices as well as reducing overhead costs. Corporate
costs for the nine months ended September 30, 1999 were $ 32.8
million, including professional fees and Y2K costs of $ 15
million.  This compares to Corporate costs of $ 47.6 million for
the same period in 1998, including professional fees and other
restructuring costs of $ 14.3 million.


PRINCETON HOSPITAL: Applies To Employ Horne CPA Group
-----------------------------------------------------
The debtor, Princeton Hospital, Inc. applies to employ Horne CPA
Group and Roger D. Greenup as accountants.  The total expected
cost will not exceed $12,250.

The firm will prepare the Medicare/Medicaid Cost Report and
prepare a terminating cost report.  The firm will also provide
consulting services concerning Medicare/Medicaid issues.


PURINA MILLS: Tentative Agreement For $60 Million From Parent
--------------------------------------------------------------
As reported in the St. Louis Post-Dispatch on November 11, 1999,
Purina Mills Inc. has a tentative agreement to get an additional
$ 60 million from its parent company, Koch Industries Inc., as
Purina restructures in bankruptcy court.

Purina Mills filed a Chapter 11 bankruptcy petition last month.
Koch, an energy and agriculture giant based in Wichita, Kan.,
already had said it would walk away from its $ 110 million equity
investment in Purina Mills. Purina Mills, based in Brentwood, is
the nation's largest producer and distributor of livestock feed.

In a document filed Wednesday with the Securities and Exchange
Commission, Purina Mills disclosed the tentative agreement with
Koch and other details of its proposed reorganization plan.

The document discloses that Purina Mills tried this summer to
obtain a capital infusion from Koch. It notes that in a
bankruptcy, the company or its creditors could use various legal
theories to file claims against the parent company.

Purina argued "that an additional infusion of capital from Koch
Industries was both necessary under current business conditions
and appropriate in light of the potential recovery actions," the
document says. But Koch rejected the request in late August.

On Sept. 30, Purina Mills failed to make a $ 2 million payment to
bondholders. It filed for bankruptcy Oct. 28 in Wilmington, Del.

The company has not filed its reorganization plan with the court,
but said it expects to do so shortly. "Purina Mills' management
is targeting to emerge from Chapter 11 during early 2000," a
company statement said Wednesday.

Purina Mills employs about 2,500 people, including 300 at its
headquarters in Brentwood and research farm in Gray Summit. It
was founded in 1894 and was the original business of Ralston
Purina Co. Ralston sold the feed business in 1986.

Koch bought Purina Mills last year. Purina Mills issued $ 350
million in bonds to finance that transaction, and holders of
those bonds are the main creditors affected by the bankruptcy
filing. The company says that holders of about 55 percent of the
bonds have agreed to the tentative settlement with Koch
Industries.

The bonds have been trading recently for about 20 cents on the
dollar. Bondholders and other creditors are expected to end up
owning Purina Mills after it emerges from Chapter 11.


RENAISSANCE COSMETICS: Committee Taps Ernst & YOung
---------------------------------------------------
The Official Committee of Unsecured creditors of Renaissance
Cosmetics, Inc., et al. filed an application for authority to
retain Ernst & Young LLP.  The firm will provide the following
services:

Analyze the current and historical financial position of each of
the debtors;

Analyze payments made to creditors 90 days prior to the filing
for potential preferences;

Analyze payments made to insiders one year prior to the filing
for potential preferences;

Evaluate the parent-subsidiary relationship; and

Analyze intercompany transactions.


SANYO AUTOMOTIVE: Taps Special Corporate Counsel
------------------------------------------------
The debtors, Sanyo Automotive Parts, Ltd., ABS Brakes, Inc. seek
court authority to engage the law firm of Snow Becker Krauss PC
as special corporate counsel.

The firm will provide general corporate advice and counsel, will
represent and counsel the debtor in connection with the
implementation of a post-petition credit facility, will gather
and disseminate to the debtors' auditors the information required
to prepare the statutory financial information which needs to be
submitted with the reports, assist in preparation of the  
reports. The debtor has paid the firm $20,000, which the debtor
proposes be used as a retainer fee.


SHOE CORP: Order Extends Exclusivity
------------------------------------
By order entered October 29, 1999, the US Bankruptcy Court for
the Southern District of Ohio, Eastern Division, the debtors,
Shoe Corporation of America, Inc. and its affiliates are granted
an extension of their exclusive period in which to file plans of
reorganization to and including the earlier of January 31, 2000
or the date on which the debtors are no longer authorized to use
cash collateral; and the exclusive periods in which only the
debtors may solicit acceptances to any plans of reorganization
are extended to and including the date 60 days after the
exclusivity termination date. After February 9, 2000 the
Committee has certain co-existing rights to file a plan.


STUART ENTERTAINMENT: Disclosure Statement in Support of Plan
-------------------------------------------------------------
The plan provides for a restructuring of Stuart's prepetition
indebtedness and operations.  Among other things, the plan
provides for the exchange of notes for new Common Stock, provided
that certain holders of Notes may elect to receive a cash
distribution in lieu of New Common Stock.  Holders of General
Unsecured Claims, to the extent not otherwise previously
satisfied, will receive in satisfaction of their claims a payment
equal to 25% of the value of their allowed general unsecured
claim.  Holders of Old common stock, and other holders of equity
interests and equity related claims will receive a pro rata
portion of $150,000 in cash, subject to certain conditions.  

Summary of Treatment of Classified Claims:

Class 1 - Priority claims - Unimpaired

Class 2 - Secured Tax Claims - Unimpaired

Class 3 - Miscellaneous Secured Claims - Unimpaired

Class 3A - Elliott Trust Secured Claim - Impaired.  Eight equal
quarterly payments of $111,736

Class 4 - Note Claims - Impaired - Each holder to receive a pro
rata portion of a number of shares of new common stock equivalent
to approximately 100% of the new common stock on a fully diluted
basis.

Class 5 - General Unsecured Claims - Impaired - Each holder shall
receive 25% of the allowed general unsecured claim in cash.

Class 6 - Subsidiary Claims - Impaired - No distributions under
the plan.

Class 7 - Equity interests and equity related claims - Impaired -
Subject to provisions of the plan, holders of an allowed equity
interest and allowed equity related claim are to receive a Pro
rata portion of $150,000 in cash.


WESTSTAR CINEMAS: Committee Taps Co-Counsel
-------------------------------------------
The Official Committee of Unsecured creditors for the debtors,
WestStar Cinemas, Inc., et al. seek authority to retain and
employ Morris, James, Hitchens & Williams LLP as co-counsel to
the committee together with Pachulski, Stang and Morris.

A hearing will be held on November 30, 1999 at 12:00 noon if
objections are filed.

The firm will bill hourly, it rates ranging from $135 per hour to
$250 per hour.


BOND PRICING FOR WEEK OF NOVEMBER 8, 1999
-----------------------------------------
DLS Capital Partners, Inc., bond pricing for week of November 8,
1999

Following are indicated prices for selected issues:

Acme Metal 10 7/8 '07                     17 - 19 (f)
Amer Pad & Paper 13 '05                   17 - 19
Asia Pulp & Paper 11 3/4 '05              74 - 76
E & S Holdings 10 3/8 '06                 32 - 35
Fruit of the Loom 8 7/8 '06               19 - 21
Geneva Steel 11 1/4 '04                   14 - 16 (f)
Globalstar 11 1/4 '04                     67 - 69
Hechinger 9.45 '12                        11 - 13 (f)
Integrated Health 9 1/2 '07                7 - 10 (f)
Iridium 14 '05                             7 - 8 (f)
Just for Feet 11 '09                       7 - 10 (f)
Loewen 7.20 '03                           53 - 55 (f)
Pillowtex 10 '06                          32 - 36
Planet Hollywood 12 '05                   28 - 30 (f)
Purina Mills 9 '10                        20 - 24 (f)
Revlon 0 '01                              28 - 29
Sunbeam 0 '18                             15 - 16
TWA 11 3/8 '06                            44 - 46
United Artists 9 3/4 '08                  23 - 24
Vencor 9 7/8 '08                          18 - 21 (f)
Zenith 6 1/4 '11                          17 - 20 (f)


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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,
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,
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