Vons Cos. had a $4.9-million loss in 1986.
The El Monte-based grocery company, which was converted to private ownership in a highly leveraged buyout last year, said in a filing with the SEC that the loss resulted from high interest costs and the lingering effects of a strike in late 1985. The filing was made in anticipation of the company’s merger with Allied Supermarkets, a Detroit company. That deal, which will result in Vons’ going public again, will produce indebtedness of about $567 million, the company said. However, much of that will be alleviated by the sale of stock to the public.
For the record:
12:00 a.m. March 30, 1987 FOR THE RECORD
Los Angeles Times Monday March 30, 1987 Home Edition Business Part 4 Page 2 Column 3 Financial Desk 1 inches; 35 words Type of Material: Correction
Vons Cos. of El Monte does not plan a public offering of stock after it merges with Allied Supermarkets and becomes a publicly traded company. It was incorrectly reported in Thursday’s Briefly column that such an offering was planned to alleviate debt.
