Campeau Interest Payments Deferred: A group of...
From Times Staff and Wire Reports
Campeau Interest Payments Deferred: A group of Campeau Corp. bondholders approved a proposal by the financially distressed Toronto-based company to defer certain interest payments until Dec. 31, 1991, while it tries to restructure. Campeau, parent of two major U.S. retailing companies now in bankruptcy court proceedings, had said a “significant negative cash flow” because of debt service obligations forced it to seek the deferral. The firm is negotiating similar deferrals with other creditors.
