TCR_Public/991206.MBX    T R O U B L E D   C O M P A N Y   R E P O R T E R
       
      Monday, December 6, 1999, Vol. 3, No. 235
                     
                     Headlines

ACME METALS: Hearing on Equity Committee Appointment
ARM: To File Chapter 11
BLUE & WHITE LINES: Files Chapter 11
CALECA USA: Seeks To Extend Time to Assume or Reject Leases
CAROL PUBLISHING: Order Authorizes Employ of Ravin, Sarasohn

CLARIDGE HOTEL: Order Authorizes Retention of Jay Alix
COLORADO CASINO: Order Approves LeBoeuf, Lamb, Greene & MacRae
DOW CORNING: Judge Spector Delivers Ruling
FIRSTPLUS FINANCIAL: Seeks To Sell Asset-Backed Securities
FULCRUM DIRECT: Seeks To Extend Exclusive Periods

NEUROMEDICAL SYSTEMS: Court Approves Settlement
NEWCARE HEALTH: Examiner's Motion To Establish Bar Date
PEACHTREE NATURAL GAS: Case Summary & 20 Largest Creditors
PEACHTREE NATURAL GAS: Files Chapter 11
PEACHTREE NATURAL GAS: PEACHTREE: To Pay Another $2.2 Million

PINNACLE BRANDS: Order Extends Exclusive Periods
PLANET HOLLYWOOD: Creative Arts Plans to Sell Stock
PLUMA INC: Order Confirms Modified Liquidating Plan
PRIMARY HEALTH: Order Extends Exclusive Periods
READING CHINA: Order Extends Exclusive Periods

SUN TV: Seeks Extension of Period To Solicit Acceptances
TRISM INC: Order Extends Time To Assume/Reject Leases
TULTEX CORP: Files Chapter 11; Commitment for $150M
VENCOR: Vencor Expects Fourth Quarter Charge

                     *********

ACME METALS: Hearing on Equity Committee Appointment
----------------------------------------------------
A hearing on Dimensional Fund Advisors and Mackenzie Financial
Corp.'s motion for an order directing the US Trustee to appoint
an Official Committee of Equity Security Holders of Acme Metals
Incorporated has been scheduled for December 17, 1999 before the
Honorable Mary F. Walrath, US Bankruptcy Court, District of
Delaware, Wilmington.


ARM: To File Chapter 11
-----------------------
ARM Financial Group, Inc. (OTC Bulletin Board: ARMGA) today
announced that it has signed a letter of intent whereby Western
and Southern Life Insurance Company will acquire the Company's
insurance subsidiaries, Integrity Life Insurance Company and
National Integrity Life Insurance Company. Western-Southern is
part of the Western- Southern Enterprise, a financial
services group which also includes Western- Southern Life
Assurance Company, Columbus Life Insurance Company, Touchstone
Advisors, Fort Washington Investment Advisors, Todd Investment
Advisors, Countrywide Financial Services, Capital Analysts and
Eagle Realty Group. Assets owned or under management by the group
exceed $20 billion.  Upon completion of this transaction, such
assets will total $25 billion.  Western and Southern Life is
rated A++ (Superior) by A.M. Best, AAA (Highest) by Duff &
Phelps, AAA (Extremely Strong) by Standard & Poor's, and
Aa2 (Excellent) by Moody's.

It is anticipated that any such acquisition by Western-Southern
would be implemented in a chapter 11 case to be commenced by ARM
under the Bankruptcy Code, subject to approval of the Bankruptcy
Court.  Under the terms of the letter of intent, the parties have
agreed to an exclusivity period to negotiate the terms of a
definitive agreement.  There can be no assurance that a
definitive agreement will be reached.  There can be no assurance
as to the amount or timing of any proceeds of such a transaction
or whether the proceeds would or would not be sufficient to
satisfy the claims of the Company's creditors and/or
shareholders.  In connection with the letter of intent, ARM
entered into settlement agreements with certain institutional
creditors of ARM and Integrity Life whereby, among other things,
certain obligations and contingent liabilities of ARM and its
subsidiaries would be extended, released or compromised, subject
to the closing of the proposed transaction with Western
and Southern.
    
"We are very excited about joining with Western and Southern,"
said John R. Lindholm, president -- Integrity Life Insurance
Company.  "When the transaction is completed, we would anticipate
a dramatic improvement in our credit ratings."


BLUE & WHITE LINES: Files Chapter 11
------------------------------------
Blue & White Lines Inc., Altoona, Pa., and sister company Lincoln
Coach filed chapter 11 on Monday, citing "increased financial
pressure in the motor coach transportation business," according
to The Pittsburgh Post-Gazette. Pittsburgh bankruptcy attorney
Robert Sable (Sable, Prusateri, Rosen, Gordon and Adams) said
that Blue & White's bankruptcy may have been brought about by a
crash that occurred Nov. 21, when four of six Blue & White buses
that had been ferrying Penn State University students from a New
York City shopping trip crashed in heavy fog on Interstate 80 in
Pennsylvania, killing a student and one of the drivers and
injuring 113 others. The companies will file more detailed
documents regarding their debts and assets by Dec. 14. (ABI 03-
Dec-99)


CALECA USA: Seeks To Extend Time to Assume or Reject Leases
-----------------------------------------------------------
The debtor, Caleca USA Corp., seeks an extension of time to
assume or reject unexpired leases through the date of
confirmation of the plan.

Caleca is a party to two leases, one is its New York City
showroom, expiring January 31, 20002 with current monthly rent of
$4,112 and the other is a lease in Moonachie, New Jersey, where
the debtor's manufacturing and administrative operations are
located.  The Moonachie lease is for a term of 13 years, at a
current monthly rent of $21,617.


CAROL PUBLISHING: Order Authorizes Employ of Ravin, Sarasohn
------------------------------------------------------------
The US Bankruptcy Court for the District of New Jersey entered an
order on November 22, 1999 authorizing the debtor, Carol
Publishing Group, Inc. d/b/a Lyle Stuart, Citadel Press and Birch
Lane Press to employ Ravin, Sarasohn, Cook, Baumgarten, Fisch &
Rosen, a professional corporation, as its counsel.


CLARIDGE HOTEL: Order Authorizes Retention of Jay Alix
------------------------------------------------------
By order dated November 9, 1999 the US Bankruptcy Court for the
District of New Jersey entered an order authorizing the debtor's
retention of Jay Alix & Associates as financial advisors to the
debtor, The Claridge at Park Place, Inc. and The Claridge Hotel
and Casino Corporation. The court specifically provided that Jay
Alix & Associates shall not be entitled to any contractual
indemnification from the debtor.


COLORADO CASINO: Order Approves LeBoeuf, Lamb, Greene & MacRae
--------------------------------------------------------------
The application of the debtors, Colorado Casino Resorts, Inc. to
retain LeBoeuf, Lamb, Greene & MacRae, as attorneys for the
debtor was approved by the US Bankruptcy Court for the District
of Colorado on November 24, 1999. A security retainer of $30,0000
is being held by the firm as security for compensation.


DOW CORNING: Judge Spector Delivers Ruling
------------------------------------------
Judge Spector delivered his ruling Tuesday morning that the
Second Amended Joint Plan of Reorganization is confirmed.  Judge
Spector finds that the Plan complies with each of the
requirements for confirmation set forth in 11 U.S.C. Sec.
1129(a):

(1) The Plan complies with all provisions of the Bankruptcy Code.

(2) The Proponents have complied with all provisions of the
Bankruptcy Code.

(3) The Plan has been proposed in good faith and not by any means
forbidden by law.  The issue on this front, Judge Spector
explains, is whether the Plan "will fairly achieve a result
consistent with the objectives and purposes of the Bankruptcy
Code."  In re Madoson Hotel Assoc., 749 F.2d 410, 425 (7th Cir.
1984); In re Nikron, Inc., 27 B.R. 773, 778 (Bankr. E.D. Mich.
1983).  Further, Judge Spector believes that applicable law
allows "courts to utilize their gut feeling about a plan's
effects."  The Plan, Judge Spector says, rehabilitates a solvent
but financially distressed corporation and resolves tort
liability and is the product of extensive negotiation.  Judge
Spector rejects the contention of the Commercial Committee that
the Plan unjustly enriches the Shareholders.  

(4) All payments made or to be made by the Proponents relative to
the Plan are subject to Bankruptcy Court approval.

(5) The Plan discloses the identities of the individuals who will
serve as post-confirmation directors, officers and voting
trustees.  

(6) The Plan discloses the identities of all insiders that will
be employed or retained by the Reorganization Debtor and the
compensation they will be paid.

(7) There is no governmental regulatory commission with
jurisdiction, after confirmation of the Plan, over the rates of
the Debtor.

(8) Each impaired class has voted to accept the Plan or will
receive or retain property with a value not less than what each
dissenting class would receive in a chapter 7 liquidation.  With
respect to Commercial Claims, Judge Spector holds that his ruling
about the definition of the legal rate of interest payable to
Class 4 Creditors being equal to the Federal judgment rate is
applicable only in a chapter 7 liquidation.  In the Debtor's
chapter 11 reorganization, the Plan (pursuant to its own terms at
Sec. 5.1) must be modified to pay interest on commercial claims
at contractual interest rates.  

(9) The Plan properly provides for the payment of priority tax
claims with interest at the statutory rate.  Judge Spector
requests the State of Texas' contention that monthly installment
payments are necessary rather than annual payments.  Perhaps,
Judge Spector notes, Congress will amend the Code to require the
payment frequency Texas would like the Code to require.  The
Internal Revenue Service's objection to the vague "market rate of
interest" that the Plan pays on the Government's claims "is not a
plan-buster," Judge Spector says.  If the Government and the
Debtor can't agree on the number, the Court will be delighted to
intervene.

(10) At least one class of claims that is impaired under the Plan
has accepted the Plan, without regard to any votes by insiders.  

(11) Confirmation is not likely to be followed by a liquidation
or a need for further financial reorganization.  

(12) The Plan provides for the payment of all fees owed to the
Bankruptcy Clerk and the United States Trustee.

(13) The Plan does not alter any retiree benefits.  

Judge Spector holds that the Plan, notwithstanding the dissent of
Classes 4 (Commercial Creditors), 15 (Canadian Tort Claimants)
and 18 (Norplant Claimants), can be "crammed down" and confirmed
over their objections because the Plan provides that they will
receive or retain on account of their claims property having a
value, as of the effective date of the Plan, equal to the allowed
amount of their claims.  

Turning to the release provisions contained in the Plan, Judge
Spector finds them appropriate because:

(a) the Settling Physicians, the Settling Insurers, Corning,
Inc., and The Dow Chemical Company will all make important
contributions to the reorganization under the Plan;

(b) the releases and injunction provisions are essential to the
reorganization;

(c) a large majority of the creditors impacted by the release and
injunction provisions voted to accept the Plan;

(d) there is a close connection, Judge Spector observes, between
the Released Parties "on the one hand and the claims against the
Debtor on the other hand"; and

(e) the Plan provides for the payment of all of the claims
affected by the release and injunction provisions. (Dow Corning
Bankruptcy News Issue 72; Bankruptcy Creditor's Service Inc.)


FIRSTPLUS FINANCIAL: Seeks To Sell Asset-Backed Securities
----------------------------------------------------------
The debtor, Firstplus Financial, Inc. seeks to sell certain
subordinated asset-backed securities.  Financial requests that
the court authorizes Financial to sell encumbered B-pieces.  B-
pieces represent unrated or lower-rated bonds used as credit
support in a securitization.  This bond is junior in priority,
but has priority in payment ahead of the Residuals.  The B-Piece
carries a principal and interest component.  The projected
minimum value of the B-pieces total approximately $6.6 million.  
These minimum prices are based on Financial's recent experience
in analyzing the market for these securities.  Financial requests
authority to pay a 1% commission to any non-insider who brings in
a successful buyer, provided that such broker is properly
retained by the estate.  The projected minimum price will be net
off any sales commission.  Thus any broker would have to secure a
minimum bid of 41% or par before the broker would be eligible for
a commission.  Financial requests that the court approve the
proposed sale of certain assets backed securities, and approve
the proposed one percent commission.


FULCRUM DIRECT: Seeks To Extend Exclusive Periods
-------------------------------------------------
The debtors, Fulcrum Direct, Inc. and its affiliates seek an
order granting an extension of their exclusive periods to file a
plan of reorganization and to solicit acceptances thereto.  The
debtors seek an extension of the exclusive period within which
they may file a plan or plans of reorganization through and
including January 31, 2000, and an extension of the exclusive
period within which they may solicit acceptances of any such plan
through and including March 31, 2000.

Fulcrum has sold most of its brands and associated assets to
dELIA, Inc. and has sold all of its raw material fabrics and
inventory, furniture and equipment.  In addition, Fulcrum has
rejected or has moved to reject all of its nonresidential real
property leases.  Fulcrum is analyzing its books and records and
gathering information to determine any and all potential causes
of action available to it for bringing further funds into the
estates.  Until Fulcrum has had additional time to further
analyze and pursue potential causes of actions against third
parties, the debtor claims it is not able to fully assess the
recoveries that will be available to the estates and,
accordingly, is not in the position to formulate a plan of
liquidation.


NEUROMEDICAL SYSTEMS: Court Approves Settlement
-----------------------------------------------
NetMed, Inc. (OTC Bulletin Board: NTMD), a developer of medical
and health-related technologies, announced today that the United
States Bankruptcy Court for the District of Delaware has approved
a settlement agreement among NetMed, Neuromedical Systems, Inc.,
and the official committee of unsecured creditors in
Neuromedical's pending Chapter 11 bankruptcy reorganization.  The
agreement provides for the settlement and release of NetMed's
claims in exchange for 175,000 shares of common stock of Tripath
Imaging, Inc. (Nasdaq: TPTH), and the allowance in the bankruptcy
proceeding of an unsecured claim by NetMed in the amount of $1.5
million.  The Company stated that it expects to receive the stock
portion of the settlement before the end of 1999, and that its
$1.5 million unsecured claim will be included with other allowed
claims of unsecured creditors to be paid out of liquidation
proceeds in the bankruptcy proceeding. The Company stated it was
unable to predict the amount and timing of any payments it may
ultimately receive in respect of the $1.5 million unsecured
claim allowed by the settlement.


NEWCARE HEALTH: Examiner's Motion To Establish Bar Date
-------------------------------------------------------
William A. Brandt, the Chapter 11 Examiner of Newcare Health
Corporation, et al., debtor, seeks to establish a bar date by
which all requests for payment of administrative claims, proofs
of claim and proofs of interest must be filed.

The Examiner has sold substantially all of the debtor's operating
assets, and is now in the process of liquidating the debtors'
remaining assets.

The fixing of a bar date may provide the Examiner with more
certain information in his discussions with the Official
Unsecured Creditors' Committee with respect to the plan.

The Examiner proposes that the Court establish a bar date of
December 31, 1999 that will apply to all requests for payment of
post-petition administrative expense claims.


PEACHTREE NATURAL GAS: Case Summary & 20 Largest Creditors
--------------------------------------------------------------
Debtor: Peachtree Natural Gas, LLC
        745 Hombree Place
        Roswell, Georgia 30076

Court: Northern District of Georgia

Chapter:11

Case Number: 99-75836

Attorney for Debtor:
John A. Thomson, Jr.
Womble Carlyle, Sandridge & Rice PLLC
1201 W. Peachtree Street
Suite 3500
Atlanta, Georgia 30309

List of 20 Largest Unsecured Creditors:
Creditor               Nature of Claim           Amount
--------               ----------------           -----
Accountants Inc.           Trade debt             23,000
Amoco Energy Trading       Trade debt            901,115
Atlanta Gas Light          Trade debt         13,332,908
Boyle-Vaughn Agency      Unsecured Loan           42,750
Cynergy Marketing
and Trading                Trade debt            172,200
DeKalb Office Environments Trade debt             40,000
Duke Energy                Trade debt             54,890
Dynergy                    Trade debt          1,606,806
El Paso Energy             Trade debt            157,156
Gancom                     Trade debt            106,974
Houlihan Lokey           Services Rendered        25,000
Meisner Direct             Trade debt             16,406
Mintz Construction         Trade debt             60,000
Siemens                    Trade debt             32,000
Southern Natural Gas       Trade debt          1,336,789
Specialty Advertising      Trade debt             47,887
Texican Natural Gas        Trade debt            104,370
Transco                    Trade debt            428,467
Universal Consultants      Trade debt             25,000
Utillpro                   Trade debt          1,654,452


PEACHTREE NATURAL GAS: Files Chapter 11
---------------------------------------
Gas Utility Report published a report on November 5, 1999 stating
that Peachtree Natural Gas, the third-largest retail marketer
operating in Georgia's fully unbundled gas market, filed for
Chapter 11 bankruptcy on Oct. 26 because of ''serious cash-flow
problems,'' the company said. After a preliminary hearing late
last week, the federal Bankruptcy Court in Atlanta scheduled
another court date for late this week, at which time the court
was expected to review whether Peachtree should be permitted to
continue selling gas to its 177,000 customers during bankruptcy
proceedings.

Peachtree officials met Tuesday in Birmingham, Ala., with
SouthTrust Corp., its major financial backer, to work out an
agreement to ensure the long-term viability of the company.
Peachtree blamed its financial woes on lengthy billing
delays and compliance with creditor Atlanta Gas Light Co.'s
demand that it post an $ 11 million bond to guarantee payment of
its bills to the utility, said Peachtree President Deborah
Latham, who founded the company in 1998.

At last week's Bankruptcy Court hearing, Peachtree reached a
temporary agreement to pay Atlanta Gas $ 500,000 to be applied to
delivery services offered to Peachtree from Oct. 26 through
yesterday (Nov. 4), the date of the second court hearing. The
bankruptcy judge also gave Atlanta Gas permission to draw down on
the $ 11 million surety bond. The distributor said Peachtree owes
it a total of $ 13.3 million for gas distribution and storage
charges.

''It is [Atlanta Gas'] goal for Peachtree's customers to continue
to be reliably served and for this interim process to have
minimal impact on the customer,'' said Paul Shanta, vice
president and general counsel for the utility.

Another creditor, billing company UtiliPro, will receive $
100,000 from Peachtree under the agreement. AGL Resources Inc.,
Atlanta Gas' parent company, holds a majority stake in UtiliPro.

On Oct. 27, Atlanta Gas filed a motion in court requesting relief
to file a petition with the Georgia Public Service Commission
seeking the assignment of Peachtree's customers to other
marketers. If Peachtree secures adequate financing, Atlanta Gas
said it will not pursue the reassignment of Peachtree's customers
to other marketers operating in the state. Otherwise, it intends
to argue for reassignment of the customers as soon as possible.

During last week's hearing, Peachtree's attorney used much of the
time to brief the judge on the history and current status of gas
unbundling in Georgia. Peachtree said it hopes to climb out of
bankruptcy within 30 days.

The marketer also is in discussions to sell 75% of the company to
CoServ, an electric, gas and telecommunication cooperative with
about 100,000 customers in the Dallas area. CoServ's purchase of
the majority stake in Peachtree is contingent upon the marketer's
climbing out of bankruptcy. Latham and otheremployees of
Peachtree would own the remaining 25% stake in the company.

CoServ currently is conducting due diligence into Peachtree's
financial records, with an eye on Nov. 24 for completion of the
deal. If the acquisition succeeds, it would be CoServ's first
venture outside Texas. The company, which also controls several
for-profit subsidiaries, had about $ 150 million in revenue last
year.

Earlier this fall, Peachtree hired an investment bank to find an
investor that could help ease the cash-flow problems. Latham said
the investment banking company estimated Peachtree's value in the
$ 40 million to $ 50 million range.


PEACHTREE NATURAL GAS: To Pay Another $2.2 Million
--------------------------------------------------
Gas Markets Week reports on November 8, 1999 that
The judge in Peachtree Natural Gas' Chapter 11 bankruptcy
proceeding has allowed another continuance as the marketer
founders in debt and works to keep gas flowing to 177,000 retail
customers while attempting a sale of the company.

Last week, Judge Robert Brizendine ordered Peachtree to pay
another $2.24 million in four separate payments to Atlanta Gas
Light (AGL), allowing it to continue using the distributor's
system until Nov. 16. AGL has said the marketer owes it some
$13.3 million for distribution, storage and other services,
making it Peachtree's largest creditor.

AGL had intervened in the case and asked permission to request
assignment of Peachtree's customers to other marketers. But the
utility has not pushed the motion yet, and has instead focused on
keeping the marketer up and running as long as possible. To
prepare for Peachtree going into default, however, the Georgia
Public Service Commission (PSC) launched a process to identify
certified marketers willing to take over as "interim poolers" for
the customers. Last week, Shell was chosen from a pool of five
interested candidates to serve as the interim pooler.

As for the payment schedule, in an Oct. 29 hearing, Brizendine
had ordered Peachtree to pay AGL $500,000 and allowed the
distributor to begin drawing on the marketer's $11 million in
surety bonds.

If Peachtree fails to make the payments, then the marketer's
lender, SouthTrust Bank, agreed that AGL would be first in line
for any collateral related to Peachtree or its parent company,
Optimum Energy Sources. The first payment of $200,000 was due
last week; the second of $300,000 tomorrow; the third payment of
$1 million Nov. 12; and the fourth payment of $744,576 Nov. 15.

Peachtree had told the court it has enough supply in storage at
AGL to keep gas flowing to customers until it expects to complete
a sale of the company around Thanksgiving. But AGL has sought to
limit the drawdown of that gas as it proceeds into the winter
heating season. In the order issued last week, Peachtree can
withdraw a total 75,000 dth between Nov. 1-30.

Peachtree also must provide to AGL a running tally of its budget,
including account receivables projections, weather assumptions,
gas sales prices, customer mix and cash flow projections weekly
in November. The marketer is ordered to curtail interruptible
customers if the gas is needed for firm end-user customers.

The next hearing in bankruptcy court is set for Nov. 15. "What
remains to be seen is whether they can conduct business on an
ongoing basis," said AGL's Millicent Hunter. "If they are unable
to pay, or if we're not convinced of their viability, then we
will go into court on the 15th and seek relief so we can
request immediate assignment of the customers" to other
marketers.

To ready for that possibility, the Georgia Public Service
Commission (PSC) last week chose Shell as the interim pooler for
those customers through the end of the heating season. How that
interim process would function was to be the subject of a meeting
last week between Shell, AGL and the PSC.

"Obviously, we're pleased," said Shell Marketing Manager Tim
Sheehan. "It's a vote of confidence from the PSC and reinforces
our commitment to the market. We're ready to take on any and all
customers."

Other marketers who applied as poolers were SCANA,
Southstar/Georgia Natural Gas Services, Reliant Energy and
EnergyAmerica. One source said the commission likely would not
have chosen Georgia Natural or SCANA, the top two marketers in
the state, for fear of forming a dominant market player.

The PSC apparently has two courses of action if Peachtree becomes
unable to serve its customers. It could revoke Peachtree's
marketer certificate, then either allow the interim pooler to
serve the customers until Peachtree finds a buyer, or randomly
assign the customers to other certified marketers. Most sources
believe the commission would take the former action, allowing
Peachtree to get on its feet again under new ownership.

Tentatively, if Peachtree goes into default and doesn't recover,
Shell would be assigned the interim pooler and would make an
informational mailing to the customers. Customers would then have
to affirm that they want to stay with Shell, choose another
marketer or risk being randomly assigned to another marketer next
April.   


PINNACLE BRANDS: Order Extends Exclusive Periods
------------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order on November 17, 1999 granting the debtors an extension of
the exclusive right to file a plan to and including January 3,
2000. If the debtors file a plan on or before January 3, 2000,
the debtors shall have the exclusive right to solicit acceptances
for their plan to and including March 3, 2000.


PLANET HOLLYWOOD: Creative Arts Plans to Sell Stock
---------------------------------------------------
In November, Creative Arts Agency LLC filed with the Securities
and Exchange Commission (SEC) to sell 190,476 common shares of
stock, valued at approximately $38,000, that it holds in Planet
Hollywood International Inc., according to Reuters. The Beverly
Hills, Calif.-based talent firm, whose clients include stars Tom
Cruise and Brad Pitt, said in the SEC filing that it acquired the
shares as "compensation for services." Planet Hollywood, an
Orlando, Fla.-based theme restaurant chain, filed chapter 11 in
October. (ABI 03-Dec-99)


PLUMA INC: Order Confirms Modified Liquidating Plan
---------------------------------------------------
By orders entered on November 19, 1999, the debtor's modified
disclosure statement and the debtor's modified plan of
liquidation are confirmed.


PRIMARY HEALTH: Order Extends Exclusive Periods
-----------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order in on November 22, 1999 granting the debtors, Primary
Health Systems, Inc. and its debtor affiliates an extension of
the exclusive periods to file a plan and solicit acceptances to a
plan, through and including February 15, 2000 and April 15, 2000
respectively


READING CHINA: Order Extends Exclusive Periods
----------------------------------------------
The US Bankruptcy Court for the District of Delaware entered an
order granting the debtors, RCG Liquidation Company, f/k/a
Reading China and Glass, Inc. and its affiliates an extension of
the exclusive time period within which to file a plan through and
including December 23, 1999.  The Solicitation Period is extended
through and including February 24, 2000.


SUN TV: Seeks Extension of Period To Solicit Acceptances
--------------------------------------------------------
Sun TV and Appliances, Inc. and Sun Television and Appliances,
Inc., debtors, seek an extension of the period to solicit
acceptances of Sun TV's joint plan of liquidation.  Sun TV's
exclusive period for soliciting acceptances to the plan expires
on November 29, 1999 and the court has set the Confirmation
Hearing Date for December 22, 1999.  Sun TV requests that the
court extend the Solicitation Period through the Confirmation
Hearing Date.


TRISM INC: Order Extends Time To Assume/Reject Leases
-----------------------------------------------------
The debtors, Trism, Inc. et al are granted an extension of the
debtors' time to elect to assume, assume and assign or reject the
debtors' leases through and including the earlier of the
Effective Date of the debtors' second amended joint plan of
reorganization under Chapter 11 or January 18, 2000.


TULTEX CORP: Files Chapter 11; Commitment for $150M
---------------------------------------------------
Tultex Corporation announced that it has filed voluntary
petitions to reorganize under Chapter 11 of the Federal
Bankruptcy Code.  As part of the reorganization, the Company also
announced that its bank lenders have agreed to provide a new $150
million secured debtor-in-possession credit facility, which will
allow the Company to continue day-to-day operations.

As part of the reorganization, the Company announced it has made
further changes in its cost structure.  These reductions include
closing six manufacturing facilities in Virginia, North Carolina
and Jamaica, closing the distribution center in Martinsville,
downsizing the manufacturing operation in Martinsville and
conducting going-out-of-business sales at its 25 retail outlets.  
This immediate downsizing of the Company will result in the loss
of approximately 2,600 jobs.

O. Randolph Rollins, President and Chief Executive Officer, said:  
"Tultex is not alone in having to transform itself rapidly.  
Practically every company in the textile and apparel industry is
suffering today and is deciding that the only way to survive in
the face of foreign competition is to outsource manufacturing
needs.  Simply put, America's textile and apparel industry has
too much high-cost, domestic manufacturing capacity."

"We have explored every avenue to avoid this filing, but to no
avail. Reorganization of the business under the Federal
Bankruptcy Code is the only alternative that will give us
breathing space and relief from certain contractual obligations,"
he said.

Rollins added:  "With these changes, it was necessary to make
substantial personnel reductions.  We very much regret the
hardship these changes will cause for many of our employees, and
we will do everything we can to help them."  The Company has
implemented an Employee Outreach Program by contracting with
the Career Management Group, a Lee Hect Harrison Company, with
offices in Roanoke, Virginia, in an effort to offer employees
career training and outplacement assistance.

For customers and the remaining employees, the Company stated
they should notice little difference in ongoing operations as a
result of the filing.  The DIP financing also will permit the
Company to satisfy customer obligations. While the law precludes
the Company from paying its vendors for goods and services
received prior to the filing until a reorganization plan becomes
effective, invoices for goods and services received after the
filing will be paid.

"We plan to contact our key vendors as soon as possible and
elicit their support," Rollins said.  "With the DIP financing
commitment from our lenders, the cash we have on hand and revenue
from ongoing operations, we will have liquidity to purchase the
goods and services we need.  We look to our vendor relationships
as partnerships and feel confident that the vast majority of our
suppliers will recognize the value of doing business with us long
term."

Tultex Corporation is a consumer-oriented marketer, manufacturer
and distributor of activewear.  Its premium brands, Discus
Athletic(R) and Track Gear(R), are sold through department
stores, sporting goods stores and specialty chains.  Products
also are sold with the Tultex(R) label.


VENCOR: Vencor Expects Fourth Quarter Charge
--------------------------------------------
Vencor, Inc. (the "Company") (OTC/BB: VCRI) today announced that
fourth quarter operating results are expected to be impacted
negatively by a charge related to reserves for uncollectible
accounts receivable. Management's ongoing review of accounts
receivable for each of its three business lines is not expected
to be completed until the Company's release of its fiscal 1999
results in March 2000.

The Company and its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 with the United States Bankruptcy
Court in Delaware on September 13, 1999.

Vencor, Inc. is a long-term healthcare provider operating nursing
centers, hospitals, and ancillary contract services in 46 states.


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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

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