DeBartolo Extends Pact With Campeau: Campeau Corp....
From Times Staff and Wire Reports
DeBartolo Extends Pact With Campeau: Campeau Corp. of Toronto said one of its key creditors extended for seven weeks an agreement requiring it to give nine days advance notice before seizing any collateral for a $480-million loan that is in default. The creditor, Edward J. DeBartolo Corp. of Youngstown, Ohio, extended the pact until June 30. Among the assets pledged to secure the loan is the Compton-based Ralphs Grocery Co. chain. A spokesman for Ralphs, however, said DeBartolo cannot take any action against it because its U.S. parent, Federated Stores, has filed for Chapter 11 bankruptcy court protection.
