OTHER NEWS - Oct. 29, 1991
From Times Staff and Wire Reports
Campeau Reorganization Gets Tentative OK: Some of the nation’s top department stores--including Bloomingdale’s and Abraham & Straus--moved closer to emerging from bankruptcy when a federal court in Cincinnati backed a preliminary reorganization plan. The chains are owned by Campeau Corp., the Canadian real estate developer whose fortunes crashed in the late 1980s. The reorganization plan is scheduled to take effect in February. Among other things, the plan stipulates that Campeau relinquish its interest in Federated Department Stores Inc. and Allied Stores Corp. and retain a 12.8% stake in Ralphs Grocery Co.
