TCR_Public/991125.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 26, 1999, Vol. 3, No. 229
                     
                     Headlines

AZTORE HOLDINGS: Successfully Reorganizes as Investment Company
BOSTON CHICKEN: Third Quarter Financial Reports Will Be Delayed
CRIIMI MAE: Hearing & Disclosure Statement Deadline Postponement
CRIIMI MAE: Reports Third Quarter 1999 Results
DOW CORNING: Motion To Use Pre-Funding To Pay Finance Committee

EVANS INC: Bloomingdale's and Rich's Object To Assignment
FORSTMANN & CO: Stock No Longer Held By Grace Bros.
HARNISCHFEGER: Motion To Dissolve Receivables Company
JUST FOR FEET: Universal Capital Submits Winning Bid
LATTICE SEMICONDUCTOR: Changes Fiscal Year

LEVITZ: Motion To Sell Mesquite Property To May For $1.5M
LITTLE SWITZERLAND: Expands Board/Announces Additional Nominees
LITTLE SWITZERLAND: One-For-Five Reverse Stock Split Proposed
LITTLE SWITZERLAND: Receives Tax Benefits/Sells Antigua Store
LITTLE SWITZERLAND: Transferred To NASDAQ SmallCap Market

LOEWEN: Monthly Operating Report
LONDON FOG: Focusing on Auction of Leases
PAGENET: Reports Third Quarter Results
PHILIP HOLZMANN: German Construction Company Declares Bankruptcy  
SIZZLER INTERNATIONAL: CEO Says Turnaround Plan Shows Promise

SIZZLER INTERNATIONAL: Proposes Stock Buy-Back Plan
SOUTHERN MINERAL: Financial and Operating Results
SUN HEALTHCARE: Motion To Sell 3.28 Acres To TU Electric
SUN TV: Approval of Disclosure Statements
VENCOR: Motion To Assume & Assign Aircraft Purchase Agreement

                     *********

AZTORE HOLDINGS: Successfully Reorganizes as Investment Company
---------------------------------------------------------------
Aztore Holdings, Inc. (OTC "AZHG"), the successor to ShareData
Inc., announced today that it has successfully implemented its
reorganization plan and has been formally discharged from Chapter
11 bankruptcy. ShareData Inc., whose stock traded on the NASDAQ
as "SHRD", originally filed for Chapter 11 bankruptcy in December
1993. ShareData filed its reorganization plan in May 1995 and its
plan was confirmed by the Bankruptcy Court in December 1995. On
January 1, 1996, the Company began operating as a closed-end,
management investment company. It also performs consulting and
investment banking services.

Michael S. Williams, Aztore's President stated, "We are operating
as an investment company under a unique exemption from regulation
under the Investment Company Act of 1940. This is due to special
provisions applying to companies reorganized in bankruptcy.
However, to maintain this exemption, we must abide by certain
restrictions. We do not believe these restrictions will
materially limit our operations in the future. From a regulatory
standpoint, we expect to file reports under the Securities
Exchange Act of 1934 and become a fully reporting public company
within the next six months."

Aztore's Unaudited Interim Net Asset Value and Realized Gains for
the period ended September 30, 1999.

The Company estimates its net asset value is currently in excess
of $ 4,000,000. This includes net realized gains on its portfolio
during the nine months of 1999 in excess of $1,900,000. During
this period, the Company also made two "bridge" loans, which were
successfully collected upon the "bridge" events, earning the
Company approximately $300,000. The Company also completed a
merger advisory assignment in September 1999 and earned a fee of
over $500,000. After these transactions, the Company estimates it
still has a remaining federal tax net operating loss carry-
forward of more than $6,000,000.

Lanny R. Lang, Aztore's Chief Financial Officer stated, "We are
not reporting our complete unaudited results for the quarter and
nine-months ending September 30, 1999 at this time. There is
still some uncertainty regarding our specific valuation and
revenue recognition policies. We will not be able to finalize our
financial statements, as an exempt investment company, until we
can review our full valuation policies with our auditors. We are,
however, reporting an estimated interim net asset value and our
realized gains for the period, since we believe this information
is material to shareholders' decisions about their investment.

We are currently soliciting an independent accounting firm for
completion of our audited financial statements for the years
ending December 31, 1997 through 1999. This will allow the
Company to file its Form 10 Registration Statement and
apply for listing on the OTC-Bulletin Board," continued Lang.

In its four years as an investment company, the Company has
developed several significant investment positions, which include
Profit Recovery Group International, Inc. (NASDAQ - "PRGX"), Beta
Oil & Gas, Inc. (NASDAQ "BETA"), Ebiz Enterprises, Inc. (OTC -
"EBIZ") and Sooner Holdings, Inc. (OTC-BB - "SOON"). The Company
also has investment positions in Entrada Software, Inc., a
Scottsdale, Arizona-based software company, which expects to be
trading in early 2000; Quality Care Solutions, Inc., a Phoenix,
Arizona-based medical claims software company integrated with
proprietary Internet based processing capability and OHost
Corporation, a Tempe, Arizona-based internet company, which
controls the first fully bilingual, Korean language vertical
internet portal called KoreaStation.com.

The Company also holds an interest in each of the nine, non-
trading public companies referred to as the "D-Bar companies".
The D-Bar companies emerged from Chapter 11 bankruptcy in April
1998 after approval of a reorganization plan by the Bankruptcy
Court in Ft. Worth, Texas. The plan that created these public
companies was architected by Aztore. The Company received its
interests in the D-Bar companies for its direct cash investment
as well as its fees incurred during the reorganization as the
advisor to the D-Bar companies' predecessor. In addition, the
Bankruptcy Court in Phoenix, Arizona recently confirmed a similar
reorganization plan for Technical Systems Integrators, Inc.
("TSI"), a Phoenix, Arizona-based technology company. TSI filed
Chapter 11 bankruptcy in April 1999 after TSI's senior creditor
group hired the Company in February 1999 to advise it on TSI's
reorganization. The Aztore-architected reorganization plan for
TSI creates six non-trading public companies. When TSI's plan
becomes effective, the Company will receive an interest in each
of these six companies for its direct cash investment as well as
its fees incurred during the reorganization.

Aztore Holdings, Inc. is a closed-end, management investment
company which specializes in investing and lending to small
public companies with high growth potential and/or which are
financially extended. The Company also acts as a merchant and
investment banker and as a consultant. The Company has
approximately 8,000,000 shares of common stock outstanding as
well as approximately 8,670,000 warrants equally divided into
three series with exercise prices of $.50, $1.00 and $1.50. The
Company has offices in Phoenix, Arizona and Houston, Texas with
its corporate office located at 3710 East Kent Drive, Phoenix,
Arizona 85044. For more information, please contact Michael S.
Williams, President, at (480) 759-9400 or by E-mail at
Mike@Aztore.com.


BOSTON CHICKEN: Third Quarter Financial Reports Will Be Delayed
---------------------------------------------------------------
As previously reported, PricewaterhouseCoopers, LLP, advised
Boston Chicken that, absent sufficient competent evidential
matter to support both the appropriateness of certain accounting
methods and principles and the reasonableness of certain
assumptions used by prior management in reporting certain
estimates, PwC would likely be unable to opine on the Company's
fiscal 1998 financial statements. The Company believed that its
1997 year-end financial statements and possibly certain other
prior period financial statements would be re-audited and
restated. However, PwC subsequently advised the Company it will
not opine on the Company's 1997 or other prior period financial
statements. In addition, PwC has advised the Company that because
it will not opine on the 1997 year-end balance sheet, it also
will not opine on the Company's 1998 cash flow or income
statements, and is still in the process of auditing the Company's
fiscal 1998 year-end balance sheet. Management believes it could
be materially misleading to issue quarterly financial information
prior to the completion of the 1998 year-end balance sheet audit
and, therefore, does not expect to file its Quarterly Report on
Form 10-Q for the quarter ended October 3, 1999 on a timely
basis.

Boston Chicken indicates that the results of operations for the
third quarter of 1999 will be improved compared to the respective
quarter in 1998 due to non-recurring store closure charges and
loan impairments recorded in 1998. (Boston Chicken Bankruptcy
News Issue 18; Bankruptcy Creditor's Service Inc.)


CRIIMI MAE: Hearing & Disclosure Statement Deadline Postponement
----------------------------------------------------------------
Judge Duncan W. Keir of the United States Bankruptcy Court
in Greenbelt, Md. rescheduled to November 1, 1999, a hearing
on a motion by Criimi Mae Inc. to approve bidding protection
provisions of the recently announced Stock Purchase Agreement
with an affiliate of Apollo Real Estate Advisors IV, L.P.
Judge Keir also extended to November 1, 1999, the due date
for Criimi Mae Inc. and two affiliates to file their proposed
disclosure statement for their Joint Plan of Reorganization.

On September 9, 1999, Criimi Mae announced that Apollo agreed,
subject to a number of conditions, to participate in financing
an approximately $910 million plan of reorganization whereby
Criimi Mae would emerge from Chapter 11.

On October 5, 1998, the company and two affiliates filed
for protection under Chapter 11 of the U.S. Bankruptcy
Code. Before filing for reorganization, the company had been
actively involved in acquiring, originating, securitizing and
servicing multi-family and commercial mortgages and mortgage
related assets throughout the United States. Since filing
for Chapter 11 protection, Criimi Mae has suspended its
loan origination, loan securitization and CMBS acquisition
businesses.  The company continues to hold a substantial
portfolio of subordinated CMBS and, through its servicing
affiliates, acts as a servicer for its own as well as third
party securitizations.

At the hearing scheduled for November 1, 1999, Judge Keir
approved the motion (filed by Criimi Mae Inc. with the support
of the Official Committee of Unsecured Creditors and the
Official Committee of Equity Securities Holders) to postpone
until after November 15, 1999 the hearing on the pending
motion to approve the bidding protection provisions in the
Stock Purchase Agreement.  Likewise, the date for the company
and two affiliates to file the proposed disclosure statement
with respect to its Joint Plan of Reorganization was extended
to the same date.  The Court approved the immediate payment
of $400,000 to Apollo for reimbursement of expenses incurred
with respect to the Agreement, continuing negotiations,
due diligence and related matters. The Court was advised
of active discussions between the company, Apollo and the
Committees to fashion an amended plan of reorganization that
can be supported by the parties.


CRIIMI MAE: Reports Third Quarter 1999 Results
----------------------------------------------
Criimi Mae Inc., for the three and nine months ended September
30, 1999, reports net income available to common shareholders for
the three months ended September 30, 1999 was $8.1 million.
On a tax basis, Criimi Mae had a loss for the third quarter
of approximately $17.8 million. This compares to a net loss
for last year's third quarter of approximately $8.7 million.
For last year's third quarter, tax basis income available to
common shareholders was approximately $19.9 million.

For the first nine months of 1999, tax basis income was
approximately $13.7 million, compared to approximately
$57.3 million for the first nine months of 1998.  The sale of
unsecuritized mortgage loans in one of the company's warehouse
facilities in the third quarter of 1999 resulted in cumulative
losses of approximately $36.3 million.

Criimi Mae's shareholders' equity decreased to approximately
$259 million ($3.86 per diluted share) at quarter end, from
approximately $281 million ($4.24 per diluted share) at June
30, 1999. The decrease in shareholders' equity during the
quarter primarily resulted from an aggregate $30.5 million
decrease in the fair value of the company's portfolio of
commercial mortgage-backed securities (CMBS) and insured
mortgage securities.

The company's net interest margin decreased by approximately
$370,000 on a tax basis for the third quarter of 1999 compared
to the third quarter of 1998. The decreases in net interest
margin were primarily due to an increase in interest expense
related to certain financing facilities that were outstanding
for only a portion of last year's third quarter, versus the
entire third quarter of 1999.


DOW CORNING: Motion To Use Pre-Funding To Pay Finance Committee
---------------------------------------------------------------
Dow Corning and the Tort Claimants' Committee, as the Proponents
of the Joint Plan, ask the Court for permission to use the
$1,000,000 previously authorized for pre-funding of the
Settlement Facility to pay fees and expenses for the members of
the Finance Committee.  Dow Corning relates that they and the
Tort Claimants' Committee have agreed to the appointment of:

Judge Katherine Kennedy, currently a District Judge in Harris
County, Texas, as the Claims Administrator who will oversee
the Settlement Facility's claims-processing and payment systems;
and

Frank Andrews, currently a Special Master in the MDL-926
litigation, as the individual to serve as the Appeals Judge;
to the Finance Committee.  The third individual to serve as the
Special Master is not yet identified.  

To enable timely implementation of the Settlement Facility,
assuming the Joint Plan is confirmed, the Debtor and the TCC
believe it is necessary now to engage Judge Kennedy and Mr.
Andrews in light of the numerous policy issues and procedural
decisions that must be made to establish the Settlement Facility.  

The salaries to be paid to Judge Kennedy and Mr. Andrews, the
Debtor advises Judge Spector, are to be determined by Judge
Pointer in Alabama.  (Dow Corning Bankruptcy News Issue 71;
Bankruptcy Creditor's Service Inc.)


EVANS INC: Bloomingdale's and Rich's Object To Assignment
---------------------------------------------------------
Bloomingdale's Inc. and Rich's Department Stores, Inc. object to
the assumption and assignment of certain executory license
agreements between Bloomingdale's or Rich's as licensor, and
Evan's Inc., one of the debtors, as licensee.

Bloomingdale's asserts that it has not been provided with
adequate assurance that Birger, or any other successful bidder
will be able to perform the debtor's obligations under the
Bloomingdale's License Agreement.  Bloomingdale's requests that
the cure amount for the License Agreement as $270,483.

Rich's, as a means of preserving its rights, objects to the
assignment of the License Agreement to any entity other than
Birger, pending assurances that such entity will be able to
perform under the assigned agreements.


FORSTMANN & CO: Stock No Longer Held By Grace Bros.
---------------------------------------------------
Grace Brothers, Ltd., broker/dealer, has announced that, as
of November 19, 1999, it no longer holds stock in Forstmann &
Co., Inc.


HARNISCHFEGER: Motion To Dissolve Receivables Company
-----------------------------------------------------
Under a Receivables Sale and Contribution Agreement among HII,
Harnco, H&S, American Alloy, Joy and Harnischfeger Receivables
Company, dated February 26, 1999, certain accounts receivable
were sold on a revolving basis to HRC in exchange for which HRC
paid cash and a subordinated note.  The Sale Agreement also
provided that HRC issue all of its stock to Harnco in exchange
for which Harnco contributed $4,500,000 of receivables.  

Under a Receivables Transfer and Servicing Agreement among HII,
Harnco, H&S, American Alloy, Joy, HRC and The Chase Manhattan
Bank, as administrative agent and purchaser, dated February 26,
1999, HRC sold to Chase, as purchaser and on a revolving basis,
all of HRC's right, title and interest in and to certain of the
receivables and related property transferred to HRC under the
Sale Agreement.  

HRC is a bankruptcy remote, non-debtor Delaware corporation, and
HRC has no creditors.  

No receivables are being sold to HRC under the Sale Agreement.  
Because HRC no longer serves the purpose for which it was
incorporated, the Harnco seeks Court authority to permit its
Board of Directors to take all corporate action necessary to
dissolve and wind-up HRC.

(Harnischfeger Bankruptcy News-Issue 15; Creditor's Bankruptcy
Services Inc.


JUST FOR FEET: Universal Capital Submits Winning Bid
----------------------------------------------------
Universal Capital Group announced today that at an auction held
on November 19, 1999 in the U.S. Bankruptcy Court for the
District of Delaware, it submitted the winning bid to manage the
inventory liquidation, approximating $90 million, for 37 Just for
Feet (Nasdaq:FEET) superstore retail outlets. Minneapolis-based
Universal Capital will conduct going-out-of-business sales at 37
outlets in ten states, including: four outlets in Minnesota; nine
outlets each in New Jersey and New York; seven outlets in
Virginia; two stores each in Massachusetts and Texas; and one
store each in Alabama, California, Connecticut and Nevada.

Just for Feet, headquartered in Birmingham Alabama, filed a
petition for Chapter 11 relief on November 4th, 1999. The company
retails a broad array of high-quality name brand sports
merchandise including footwear and apparel from such famous
makers as Nike and Reebok to Adidas and Asics.

Mike Catain, Universal Capital Group President and COO, said,
"Just in time for the holidays, consumers won't find better deals
or selection on top name brand footwear and apparel. Already
known for offering some of the best bargains in the sporting
goods industry, Just for Feet's closing locations will now offer
even lower prices to liquidate the excess inventory by
Christmas."

"In addition to offering the best selection of footwear, whether
its for running, hiking or team sports, Just for Feet also offers
some of the best deals on terrific apparel from socks to hats and
everything in between. Just for Feet's special in-store Combat
Zone is also an awesome place to shop for deeply-discounted
closeout footwear with prices ranging up to 70% off."

"Now is a great time for consumers to come in and shop for
holiday gifts. We're selling everything to the bare walls and
consumers won't believe the tremendous bargains we're offering
until they see them! Come early for the best selection!" said
Catain.

Company officials said the sales will begin on Wednesday,
November 24th and that the stores are being readied for the large
crowds expected the day after Thanksgiving -- traditionally the
year's biggest shopping day. Universal Capital said that they
have retained a number of store employees to handle the
going-out-of-business sales and that financial incentives and
job-placement assistance will be provided for those employees
that are retained to handle the store closing process. Job fairs
may be held in some cities for interested prospective employers
and Universal will make those announcements locally.

Catain said, "Once again, Universal Capital tendered the winning
bid to manage the inventory liquidation for a national retailer
as a result of our ability to keep expenses low and, through a
well-managed liquidation process, maximize the proceeds to the
company and its creditors. Although a relative newcomer to the
liquidation industry, we're quickly making our mark, which is
evidenced by the number of deals we've managed this year alone."

"Since the Fall of 1998, Universal has managed inventory
liquidations for several well-known retail chains, including: Sun
Television and Appliances, once a 59-store chain operating in
eight states; LOT $OFF, a 45-store deep-discount chain operating
in five states; MJDesigns, a 35-store specialty retailer of arts
and crafts merchandise; Three D Bed & Bath, a 13-store specialty
retail chain selling home textiles, decorative housewares and
other home fashion items; Jay Jacobs, a 114-store specialty
apparel chain; Pacific Linen, a 28-store home decor chain and now
for 37 of Just for Feet's 300+ stores."

Organized in 1996, Minneapolis-based Universal Capital Group is
an established full-service retail consultant serving both retail
management and asset-based lenders. Universal provides a variety
of services including strategic store analyses, inventory
evaluation, collateral monitoring and inventory liquidation.
Universal also provides a mezzanine financing service to
assist lenders and businesses with their funding and liquidity
needs. The Company has handled liquidations in hundreds of
locations throughout the United States, representing more than
$500 million in merchandise sales.


LATTICE SEMICONDUCTOR: Changes Fiscal Year
------------------------------------------
On November 9, 1999, the Board of Directors of Lattice
Semiconductor Corporation, a Delaware corporation, approved a
resolution to change its accounting from a fiscal year ending on
the Saturday closest to March 31 to a fiscal year ending on the
Saturday closest to December 31. Consequently the company will
file an annual report for the nine-month fiscal year ending
January 1, 2000.


LEVITZ: Motion To Sell Mesquite Property To May For $1.5M
---------------------------------------------------------
The Debtors' store located at 18633 LBJ Freeway in Mesquite,
Texas, was closed and the property was put on the market.  Grubbs
& Ellis scouted for buyers.  G&E's efforts culminated in a
$1,500,000 cash offer from Mays & Company Real Estate
Development, Inc., for the Debtors' fee simple interest in the
Mesquite Property.

By this Motion, the Debtors seek authority to consummate a sale
of the Mesquite Property to Mays for $1,500,000 under the terms
of a Purchase and Sale Agreement dated October 8, 1999.  

Although the Debtors are convinced that Mays' offer is the
highest and best, the Debtors and Mays agree to subject Mays'
offer to a competitive bidding process.  Competing bidders may
submit cash offers, starting at $1,575,000, to Debtors' counsel
no later than December 7, 1999.  If a competing bid is received,
the Debtors will conduct an auction.  Mays will be entitled to a
$25,000 Break-Up Fee in the event its bid is topped by a
competing bidder.  

The Debtors ask Judge Walrath for additional authority to pay G&E
a 5% sales commission from the Sale Proceeds.  (LEVITZ FURNITURE
Bankruptcy News Issue 40; Bankruptcy Creditor's Service Inc.)


LITTLE SWITZERLAND: Expands Board/Announces Additional Nominees
---------------------------------------------------------------
Little Switzerland, Inc.'s Board of Directors has nominated
Kenneth W.  Watson and Peter R. McMullin for election at the
company's annual meeting scheduled for December 21, 1999.
Mr. Watson has been serving on Little Switzerland's board of
directors since 1991, and Mr. McMullin since April 1999.

Little Switzerland also announced that Seymour Holtzman, and
Richard Siegel, have been appointed to the company's Board
of Directors, effective as of the December 21/st annual
meeting. The appointment of Mr. Holtzman and Mr. Siegel
increases the size of Little Switzerland's Board of Directors
from six to eight members.

Mr. Holtzman is founder and chief executive officer of
Jewelcor, Inc. and founder and former chief executive
officer of Gruen Marketing Corporation.  Mr. Holtzman has
managed public companies for over 25 years and is currently
a director of Ambanc Holding Company, Inc.  Mr. Holtzman has
been appointed a Class III Director whose term will expire
at Little Switzerland's annual meeting of shareholders in 2000.

Mr. Siegel is general counsel for Sturm Group, Inc., a private
investment firm headed by Donald L. Sturm.  He will be a
Class I Director with a term expiring at the annual meeting
of shareholders in 2001.

Mr. Robert Baumgardner, President and CEO of Little
Switzerland, praised the new board appointees, saying,
"Seymour Holtzman is a recognized business leader.  We look
forward to benefiting from his keen insights and his many
years of successful experience in the retail jewelry industry.
Richard Siegel is a distinguished attorney whose counsel and
guidance will be a tremendous asset as Little Switzerland
continues its efforts to redevelop its business."


LITTLE SWITZERLAND: One-For-Five Reverse Stock Split Proposed
-------------------------------------------------------------
From its headquarters in St. Thomas, U.S. Virgin Islands,
Little Switzerland, Inc. announces the company's Board of
Directors has approved a one-for-five reverse stock split of
its common stock.  The company stated that this stock split is
being undertaken in an effort to allow it to remain eligible
for listing on Nasdaq.  Nasdaq previously had informed Little
Switzerland that it would not remain eligible for trading
on Nasdaq unless it could show compliance with the continued
listing requirements, including the minimum $1.00 per share
bid requirement.  As a result, the company has requested that
Nasdaq permit a transfer to Nasdaq's SmallCap Market System.

The Board of Directors will submit this reverse stock split
proposal to stockholders for approval at the company's annual
meeting of stockholders scheduled for December 21, 1999, with
a record date of November 26, 1999.  At the annual meeting,
Class II Directors will be elected with a term expiring at
the 2002 annual meeting.

Little Switzerland, Inc. is a leading specialty retailer of
brand name watches, jewelry, crystal, china, fragrances and
accessories, operating 20 stores on six Caribbean islands, and
two stores in Alaska cruise ship destinations.  The company's
primary market consists of vacationing tourists attracted by
free-port pricing, duty-free allowances and a wide variety
of high quality merchandise.


LITTLE SWITZERLAND: Receives Tax Benefits/Sells Antigua Store
-------------------------------------------------------------
Little Switzerland, Inc. has been notified by the Industrial
Development Commission of the United States Virgin Islands
("IDC") that it has renewed certain tax benefits for its
wholly-owned subsidiary, L.S. Wholesale, Inc., which had
expired at the end of August 1998.  The IDC further informed
the company that the benefits will be applied retroactively
to the end of August 1998 and are for a five year period.
Thus, as a result of the renewal, L.S. Wholesale will enjoy
the benefit of a 75% exemption from taxes on income received
from activities conducted outside of the United States
Virgin Islands, which results in an effective tax rate of
approximately 9.3%.  In addition, L.S. Wholesale will enjoy
a 75% exemption from gross receipts tax.

The company also has closed the sale of all of the assets and
goodwill of its store located in Antigua for an aggregate
purchase price of $2.0 million, of which the company has
received a $1.5 million payment.  The balance of the purchase
price is to be paid in two installments in the spring of 2000.
The company used the $1.5 million in proceeds to pay down
its debt to its existing lenders under its credit facilities.

Robert Baumgardner, president and chief executive officer
of Little Switzerland, stated that, "The sale of the Antigua
store is the company's first strategic step in reducing its
current debt. Management continues to work towards obtaining
alternative financing to address the overall liquidity and
capital concerns of the company."  Mr. Baumgardner concluded,
"Management and the Board of Directors of Little Switzerland
are continuing to review all of the company's strategic
options which we believe are necessary to return the company
to profitability."


LITTLE SWITZERLAND: Transferred To NASDAQ SmallCap Market
---------------------------------------------------------
Little Switzerland, Inc. has been notified by The Nasdaq Stock
Market, Inc. that its common stock was to be transferred to
The Nasdaq SmallCap Market(SM) effective at the opening of
business on Friday, November 12, 1999.  The company's new
trading symbol will be "LSVIC."

The company's president and chief executive officer, Robert
Baumgardner, stated "We are pleased with NASDAQ's decision
to permit the company's stock to be transferred to SmallCap.
We believe that continued listing on NASDAQ is important to
maintain liquidity for the company's stockholders. "

The company's continued listing on SmallCap is subject
to certain conditions, including (i) obtaining asset-based
financing to pay down its existing debt and for working capital
purposes and (ii) effecting a reverse stock split which is
subject to approval by the company's stockholders at its annual
meeting which is currently scheduled for December 21, 1999.
Although the company indicates it will work diligently towards
meeting these conditions, there is no assurance that it will
be able to do so and that any actions proposed to be taken by
the company to maintain its SmallCap listing will be effective.


LOEWEN: Monthly Operating Report
--------------------------------
THE LOEWEN GROUP, INC. reports total assets as of August 31, 1999
of $4,439,109,000.                                                                                                        

THE LOEWEN GROUP, INC. reports for the month ended August 31,
1999 net income of 145,000 Retained deficit, beginning of period                      
(644,334,000)                                                  

Retained deficit, end of period ($644,189,000)
                                                        
For the month ending September 30, 1999, THE LOEWEN GROUP, INC.
Reports Net income for the period of 4,275,000
Retained deficit, beginning of period (644,189,000)                                                      

Retained deficit, end of period ($639,914,000)
                                                      
THE LOEWEN GROUP, INC. reports for the month ended September 30,
1999, cash and cash equivalents at the end of the period of
$72,130,000.
                                                        

LONDON FOG: Focusing on Auction of Leases
-----------------------------------------
With several significant developments occurring on Nov. 19,
London Fog Industries Inc. continues to make significant progress
in its bankruptcy reorganization. The rainwear manufacturer and
retailer submitted bidding procedures, outlined below, to the
bankruptcy court on Friday regarding an auction of its retail
store leases. Counsel for London Fog said that the company is in
the process of evaluating its leases to see if they have value
and should be assumed and then sold. (The Daily Bankruptcy Review
and ABI November 24, 1999)


PAGENET: Reports Third Quarter Results
--------------------------------------
Paging Network, Inc. (Nasdaq:PAGE), which yesterday announced an
agreement to merge with Arch Communications Group Inc., today
reported financial results for the quarter ended September 30,
1999.

Third quarter 1999 consolidated net revenues were $231.0 million,
compared to $246.8 million reported in the same period last year.
Consolidated Adjusted EBITDA(1) declined to $59.1 million,
compared to $87.1 million in the third quarter of 1998.
Consolidated Free Cash Flow(2) was negative $34.4 million in the
1999 third quarter, compared to a negative $31.8 million in the
same period last year. Consolidated capital expenditures were
$56.9 million in the third quarter of 1999, compared to $36.4
million in the second quarter of 1999 and $83.6 million in the
third quarter of 1998. Third quarter 1999 consolidated net loss
was $49.5 million, a loss of $0.48 per share.

PageNet's core paging business generated net revenues of $223.4
million in the third quarter of 1999, compared to core paging
revenues of $241.8 million in the third quarter of 1998. The
company's core business generated Adjusted EBITDA of $71.4
million in the third quarter of 1999, a 24 percent decrease from
third quarter 1998 levels.

Vast Solutions, established in July 1999, generated $0.5 million
in revenues in the third quarter of 1999, and reported a
quarterly EBITDA loss of $9.1 ,million. PageNet said Vast has
made significant progress on several initiatives, including
business-to-business solutions for major companies,
Internet-based wireless content services, and development of a
network-independent wireless gateway for the wireless information
industry.

The company continues to be in compliance with the covenants of
its domestic credit facility. Under the terms of this credit
facility, PageNet is permitted to "add back" certain items to its
domestic EBITDA to test compliance with credit facility
covenants. In addition, Vast is operated as an unrestricted
subsidiary and its results are not included in the compliance
calculations. Excluding these numbers, the EBITDA for bank
compliance purposes was $77.4 million in the third quarter of
1999. Under the terms of its senior subordinated notes, PageNet
is currently restricted from incurring additional debt. As of
November 5, 1999, the company had approximately $50 million in
cash, which it considers sufficient for its needs into the first
quarter of 2000. At the end of the third quarter, PageNet's long-
term domestic debt was $1.946 billion, compared to $1.814 billion
at June 30, 1999.

The company experienced a net reduction of approximately 462,000
domestic units in service in the third quarter of 1999, mainly
due to PageNet's continued rationalization of its customer base
and intensifying price competition in the market for paging
services.

The company said approximately two-thirds of the loss in units in
service was a result of continued weakness in PageNet's reseller
channel, and that most of these losses were of subscribers to
lower-cost numeric services. About 120,000 of the units lost are
attributable to the previously disclosed cancellation of units
from a national account relationship and the bankruptcy of a
major reseller. Approximately 122,000 more of the net reductions
represent reconciliation of PageNet's reseller account records as
they are converted to the Centers of Excellence (COE) platform,
as well as the elimination of certain non-revenue-generating
"phantom" units. The company expects that price competition,
conversions and systems reconciliation will continue to have a
negative impact on the company's subscriber count in the
fourth quarter.

The company said the continuing loss of subscribers has been
partially offset by gains in higher-end customers. Also, the
company's salesforce reorganization has contributed to improved
gross additions in units in service, which have been trending
higher during the past four months.

Core domestic third quarter 1999 average monthly service revenue
per unit (ARPU) declined to $7.78 from $7.84 per unit in the
second quarter of this year. Third quarter ARPU was 3 percent
higher than the$7.59 reported in last year's third quarter.

PageNet attributed the decline to the continuing impact of
heightened price competition.

PageNet said it held its operating expenses steady during the
quarter by continuing to implement aggressive cost control
policies. The quarter's decline in revenues, however, more than
offset the impact of stable costs.

PageNet said that it continued to focus on three key initiatives
during the third quarter: the restructuring of its operations,
the build-out and commercial launch of PageNet's advanced
network, and the creation and commercialization of the business
opportunities within Vast Solutions.

PageNet's operational restructuring program is aimed at improving
the performance and reducing the cost structure of PageNet's
historical core business through the creation of four Centers of
Excellence (COEs). The new structure also will provide the
company with the operating platforms to facilitate long-term
growth. The new COE platform now serves approximately 50 percent
of PageNet's U.S. customers, an increase from the 25 percent
level at the end of the second quarter. Offices transitioned in
the third quarter include Denver, Louisiana, Michigan, Kansas
City, St. Louis, Chicago and Boston. The company said it would
continue to implement its plans to convert its direct and
indirect customers to the COEs throughout the rest of this year
and into the year 2000.

PageNet has substantially completed the construction of its
Reflex 25 advanced messaging network, and the company received
the first Two Way units for the network in mid-October. The units
are currently being tested on the advanced network, and the
company expects to begin a large-scale usage test of the Two Way
network late in the fourth quarter, when a larger number of units
are delivered. The Company believes its network to be the
largest of its kind, with the highest capacity and most density
of coverage in the industry.

In June, PageNet announced the formation of Vast Solutions to
focus and accelerate the development and commercialization of
several advanced wireless ventures. As part of PageNet's proposed
merger with Arch Communications, Vast will become an independent
entity.

Vast said it is pleased with the progress being made on a number
of initiatives, including creating several new alliances,
products and services that were announced during the third
quarter. During the quarter, Vast announced the first sale of the
Wireless Extension for Unicenter TNG, a product developed jointly
by Vast and Computer Associates International, Inc. Vast also
announced the TWIST application leveraging alliances with
Computer Associates and 3Com, along with new relationships with
Critical Path and Siebel Systems. Vast has also made major
strides in solidifying its management team and focusing its sales
and marketing efforts on well-defined target markets and industry
sectors.

Paging Network, Inc. is a leading provider of wireless messaging
and information services with more than 9 million subscribers in
all 50 states, the District of Columbia, the U.S. Virgin Islands,
Puerto Rico and Canada. The company offers a full range of paging
and advanced messaging services, including guaranteed-delivery
messaging, two-way wireless e-mail, and global messaging.
PageNet's wholly owned subsidiary, Vast Solutions, plans
to introduce a variety of customized information services for
pagers and other devices, partnering with content providers such
as Yahoo!, CNN, Bloomberg, ESPN and others. Additionally, Vast
Solutions develops integrated wireless solutions to increase
productivity and improve performance for major corporations.
Detailed information for PageNet services are available on the
Internet at www.pagenet.com.


PHILIP HOLZMANN: German Construction Company Declares Bankruptcy  
----------------------------------------------------------------
Philipp Holzmann AG, a 150-year-old construction company in
Germany, and the second largest such company in the country,
filed for bankruptcy yesterday after it failed to reach an
agreement with bankers on a $1.5 billion bailout, the Associated
Press reported. Chancellor Gerhard Schroeder said he would meet
today with creditors in a "last try" effort to save the company,
which built opera houses and train stations in the19th century,
as well as skyscrapers, bridges and dams in the 20th century.
Schroeder is under pressure to reduce unemployment in
Germany and said that the government would "use a lot of
imagination" to help the company. One possibility is a government
guarantee for a loan of $159 million. Holzmann employs about
18,000 people, as well as tens of thousands of workers at its
suppliers. The company filed a bankruptcy application yesterday
morning in district court in Frankfurt. A week ago the company
shocked markets when it revealed losses of $1.3 billion because
of what it called mismanagement by former executives; prior to
this announcement, the company had said it was close to a
turnaround after years of losses. (ABI 24-Nov-99)


SIZZLER INTERNATIONAL: CEO Says Turnaround Plan Shows Promise
-------------------------------------------------------------
Sizzler International, Inc. has experienced a 28% increase
in earnings per diluted share and gains in its total revenues
for the second quarter of fiscal 2000 ended October 17, 1999.
Net income for the second quarter was $2.06 million versus
$1.60 million in the same period a year ago.

"Our gains in earnings primarily reflect the result of
our continuing focus on cost controls combined with sales
increases," said Sizzler International, Inc. President and
CEO Charles Boppell.

For the 12 weeks ended October 17, 1999, Sizzler reported
revenues of $55.3 million, up 8.3% over the $51.0 million in
the comparable period in Fiscal 1999.

Commenting on Sizzler's recent results and new strategic
focus, Boppell remarked, "We are solidly underway with our
new management team's turnaround plan. By the middle of
next year, we will have upgraded the quality of our food
and improved the salad bar offerings in all of our company
operated U.S. restaurants."

"Although it is too early to draw definitive conclusions from
the restaurants that are already featuring these improvements,
the feedback we are getting from customers is very positive
and same store growth is strong in those locations.  We have
also started remodeling our locations to give them a softer,
quieter, and updated feel, but are still retaining our casual
dining theme. This program is expected to be completed for
the entire system by the middle of 2001," Boppell added.

For the 24 weeks ended October 17, 1999, Sizzler reported
revenues of $112.27 million versus $103.59 million in the
same period last year, which is a gain of 8.4%.  Net income
for the first half was $4.57 million compared with $3.67
million in the same period a year ago.

At October 17, 1999, Sizzler reported total assets of $111.15
million and shareholders' investment of $56.75 million. The
company had 28,776,134 shares issued and outstanding, down
from 28,797,828 at the end of fiscal 1999.

"Due to the limited number of locations that have our new food
and cooking methods, this quarter's company-wide same store
results are not representative of the success of this new
program. However, looking only at those locations offering
the higher quality food, we have seen same store sales
increase even in the early weeks following the change,"
remarked Mr.  Boppell. Same store sales decreased 0.6%
across all U.S. Sizzler locations, and increased 2.0% in the
Australian Sizzler locations. Sizzler's KFC units posted a 6.4%
increase in same store sales for the second quarter.

In addition to strong same store sales increases for locations
with new, higher quality food and improved cooking methods,
Sizzler has seen an increase in customer counts and a shift
in the entree choices of its patrons. "Since making these
changes, guest counts have increased, which we believe is
an indication of the stronger customer acceptance of our
improved food and cooking methods. We also believe that by
offering higher quality and giving customers better options,
we will win back customers who haven't visited Sizzler in a
while," Boppell said.

Improvements in food quality and cooking methods began in
selected company-owned Sizzler locations in late August, 1999,
and will be complete in all locations by mid-2000. As of the
end of the second quarter, one restaurant had been remodeled,
with plans to complete all 266 domestic Sizzlers by the
end of 2001.  "Based on early indications of a successful
turnaround strategy and other positive financial trends,
we expect to achieve continuing gains in Sizzler's financial
and operating performance through the end of Fiscal 2000 and
in 2001. Contributing to the gains from our food quality and
remodeling programs will be our share buy-back program and
the completion of a successful acquisition," added Boppell.


SIZZLER INTERNATIONAL: Proposes Stock Buy-Back Plan
---------------------------------------------------
On November 11, 1999, Sizzler reported that its Board of
Directors had approved the repurchase of up to 1.5 million
shares, to be conducted from time to time in the open market or
in negotiated transactions. Commenting on the share repurchase,
Mr. Boppell said, "All of the elements of our strategic plan are
intended to create additional shareholder value, including our
plans for a stock buy-back. We believe our stock price does not
adequately reflect the full value of our current business,
nor the strong growth we are already beginning to create
through the improvement in the quality of our meals and our
restaurant remodeling. We believe that a stock buy-back will
only accelerate the enhancement of shareholder value that is
being created by these restaurant improvements, our plans to
co-brand our Australian locations, and the long term growth
we will create through a successful acquisition."

Sizzler International, Inc. operates, franchises or joint
ventures 345 Sizzler restaurants worldwide, in addition to 101
KFC restaurants in Queensland, Australia. The company owns 66
of its U.S. Sizzler locations and 31 Australian locations. The
company franchises 187 Sizzler locations in the U.S. and 61
locations internationally. The company is listed on the New
York Stock Exchange under ticker symbol SZ.


SOUTHERN MINERAL: Financial and Operating Results
-------------------------------------------------
Southern Mineral Corporation (OTC Bulletin Board: SMINQ.OB)
announced financial and operating results for the third quarter
and first nine months of 1999.

For the third quarter of 1999, the Company reported income of
$4.9 million or income of $0.38 per share on revenues of $13.7
million, compared to a net loss of $2.0 million or a loss of
$0.16 per share on revenues of $6.7 million for the same period
in 1998.  The 1999 income is primarily the result of the
gain on sale of domestic properties and increased oil and gas
prices offset by decreased oil and gas revenues due to decreased
production and restructuring costs relating to the terminated
restructuring plan as filed with the Securities and Exchange
Commission in July 1999.

Oil and gas revenues for the third quarter 1999 were $6.6 million
compared to oil and gas revenues of $6.7 for the same period in
1998.  The decrease in revenues reflects a decrease in oil and
natural gas liquids ("NGL") production of 21% to 200,373 barrels
and a decrease in natural gas production of 42% to 1,219 MMcf in
the third quarter of 1999 compared to the third quarter of 1998.
Canadian production levels for the third quarter of 1999 are
lower than comparable production levels in 1998 due in part to
the sale of certain properties in the fourth quarter of 1998 and
other factors including normal and unanticipated production
declines.  Domestic production levels are lower due primarily to
the sale of the mineral and royalty interests in the first
quarter of 1999, the sales of Brushy Creek and Texan Gardens
Fields in the third quarter of 1999 and other factors including
normal production declines.

The decreased production was offset by an average realized oil
price increase of 70% from $10.99 per barrel in the third quarter
of 1998 to $18.94 per barrel in the third quarter of 1999.  
Average realized natural gas prices increased 40% to $2.37 per
Mcf during the third quarter of 1999 compared to $ 1.69 per Mcf
in same period a year earlier.

The Company reported income for the nine months ended September
30, 1999 of $4.2 million or income of $0.33 per basic share on
revenues of $30.6 million, compared to a loss of $4.8 million or
a loss of  $0.39 per basic share on revenues of $15.5 million in
the same period in 1998.  The 1999 income is primarily the result
of the gain on sale of domestic properties offset by
restructuring costs relating to the terminated restructuring plan
as filed with the Securities and Exchange Commission in July
1999.

Oil and gas revenues for the nine months ended September 30,
1999, were $ 18.4 million compared to oil and gas revenues for
the same period in 1998 of $ 15.5 million.  The increase in
revenues reflects higher production volumes of both crude oil and
NGL and increased natural gas and crude oil prices. Natural
gas production in the nine months ended September 30, 1999 was
4,367 MMcf, essentially unchanged as compared to production for
the same period in 1998 of 4,380 MMcf.

The Company's crude oil and NGL production for the nine months
ended September 30, 1999 increased 53% to 642,992 barrels as
compared to 523,542 barrels for the same period in 1998.  
Production levels for the nine months ended September 30, 1999,
when compared to 1998, reflect increased production
from Canada beginning in July 1998, offset by decreased
production related to property sales from Canada in the fourth
quarter of 1998 and from domestic property sales of mineral and
royalty interests in the first quarter of 1999 and
Brushy Creek and Texan Gardens Fields in the third quarter of
1999.

On October 29, 1999, the Company and its wholly-owned
subsidiaries, BEC Energy, Inc., Amerac Energy Corporation, SMC
Ecuador, Inc. and SMC Production, Inc., filed voluntary petitions
for relief under Chapter 11 of the U.S. Bankruptcy Code in the
U.S. District Court for the Southern District of Texas,
Victoria Division.  The Company and its debtor subsidiaries
continue to operate as debtors-in-possession subject to the
Bankruptcy Court's supervision and orders.

The Company's Form 10-Q for the quarter ended September 30, 1999
was filed with the Securities and Exchange Commission and should
be reviewed for more detailed discussions regarding the Company's
historical financial performance and current financial situation.

Southern Mineral Corporation is an oil and gas acquisition,
exploration and production company that owns interests in oil and
gas properties located along the Texas Gulf Coast, Canada and
Ecuador.  The Company's principal assets include interests in the
Big Escambia Creek field in Alabama and the Pine Creek field in
Alberta, Canada.  The Company's common stock is quoted on the OTC
Bulletin Board under the trading symbol "SMINQ.OB".


SUN HEALTHCARE: Motion To Sell 3.28 Acres To TU Electric
--------------------------------------------------------
The Debtors own a 3.38 acre parcel of vacant land located at the
intersection of Lemmon Avenue East and Carlisle Street in Dallas,
Texas.  Sun acquired the property from Assisted Living
Investments LLC, of which SunBridge is a member, in exchange for
ALI's debt to SunBridge associated with the original purchase of
the property.  

Sun has marketed the property since 1998; one deal, subject to a
financing contingency, already fell apart.  In March 1999, Texas
Utilities Electric Company advanced an offer to purchase the
property.  Negotiations culminated in TU Electric's presentation
of a Purchase Contract dated June 10, 1999, offering $4,680,000,
in cash, subject to a re-zoning contingency and receipt of
certain governmental entitlements.  TU's re-zoning request
has been approved by the City Planning Commission and City
Council, paving the way for a Closing to occur before December
20, 1999.  

By this Motion, the Debtors ask Judge Walrath for authority to
assume the Purchase Contract, pursuant to 11 U.S.C. Sec. 365,
perform their obligations under the Purchase Contract, and sell
the property.  

The Debtors are convinced that TU Electric's offer is the highest
and best available.  Although the Debtors have talked to over 75
potential purchasers for the property, they don't know who would
step up to the plate if TU Electric were to walk away.  Further,
the zoning restrictions are significant and re-zoning entails a
six-month review process before a final decision can be made.  

To assure that TU Electric's bid is, in fact, the highest and
best offer, the Debtors will publish notice of sale and TU
Electric agrees to subject its offer to a competitive bidding
process, provided that any competing bid -- which can be
presented in open Court on November 30, 1999 -- be no less
than 110% of TU's purchase price. (Sun Healthcare Bankruptcy News
Issue 5; Bankruptcy Creditor's Service Inc.)


SUN TV: Approval of Disclosure Statements
-----------------------------------------
After a hearing on November 15, 1999, the US Bankruptcy Court for
the District of Delaware entered an order approving the
Disclosure Statements of Sun TV Appliances, Inc. and its
corporate parent, Sun Television and Appliances Inc.

A confirmation hearing will commence on December 22, 1999 at 9:30
AM.  December 17, 1999 at 4:00 PM is fixed as the last date for
filing and serving objections to confirmation of the plan.


VENCOR: Motion To Assume & Assign Aircraft Purchase Agreement
-------------------------------------------------------------
In 1995, Vencor entered into a Purchase Agreement with The Cessna
Aircraft Company, contracting to purchase a Citation Excel Model
560-XL aircraft.  The airplane is current under construction,
scheduled for delivery in March 2000, with $7,200,550 due at
delivery.  

The Debtors determined in April 1999, that they don't want the
airplane.  Shortly thereafter, the Debtors entered into an
agreement with 100SC Partners Limited Partnership providing that,
upon delivery of the airplane to Vencor, Vencor will immediately
sell the airplane to 100SC and receive $471,025 from 100SC.  The
Debtors relate that 100SC has already paid nearly $1,000,000 in
progress payments to Cessna the 1995 Purchase Agreement.  

By this Motion, the Debtors seek authority to assume each of the
purchase agreements without further delay and assign their
interests in the 1995 Purchase Agreement with Cessna to 100SC in
exchange for a $471,025 immediate cash payment. (Vencor
Bankruptcy News Issue 7; Bankruptcy Creditor's Service Inc.)




                     *********

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
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