Southland Corp.’s Profit Outlook Shaky: The parent...
From Times Staff and Wire Reports
Southland Corp.’s Profit Outlook Shaky: The parent company of the 7-Eleven chain said it does not expect to become profitable until 1993, even if it successfully exchanges $1.8 billion in publicly traded debt for new debt. In a preliminary prospectus for its debt-exchange offer, Dallas-based Southland Corp. projected a $156-million loss in 1990. The firm also said it expects to save $1.6 billion in cash interest payments between now and Dec. 31, 1997, if the bond swap goes through.
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