Fries Studio May Restructure: Fries Entertainment Inc....
From Times Staff and Wire reports
Fries Studio May Restructure: Fries Entertainment Inc. said it was exploring a financial restructuring that could lead to a sale of part or all of the company. The troubled studio, which has lost money for the last two fiscal years, has current liabilities of $92.2 million, including $55.1 million in long-term debt. New York-based investment banker Furman, Selz & Co. will evaluate potential joint ventures or a sale or merger of Fries in addition to negotiating with its lenders and bondholders to restructure its debt.
