OTHER NEWS - Aug. 16, 1991
From Times Staff and Wire Reports
Standard Brands Paint Receives Proposals: The Torrance-based company said it has “at least three” proposals from investor groups and that the proposals cover such options as replacement of the company’s bank financing and the purchase of new equity. The spokesman said none of the proposals involves a takeover offer for all of the company’s stock. The company also said that its main lender, Security Pacific Bank, will temporarily waive its right to call in loans while rescue proposals are studied. The waiver will stand until Sept. 30. Standard Brands owes Security $27.6 million.
