Leisure Technology to Miss Payment: The Los...
From Times Staff and Wire Reports
Leisure Technology to Miss Payment: The Los Angeles-based senior-citizen home builder said it will not make the semiannual interest payment due on Oct. 15 on $40 million of its bonds. Leisure Technology--which has been battered by slow home sales and hefty corporate debt, and has missed previous debt payments--also said it has received a tentative commitment from a “substantial” company to provide it with more financing.
