Standard Brands Deal Falls Through: Standard Brands...
From Times Staff and Wire Reports
Standard Brands Deal Falls Through: Standard Brands Paint Co. Chairman Stuart D. Buchalter said a proposed equity infusion from Founders Equity Inc., a New York-based investment firm, has been called off. Buchalter said the firm is negotiating with its senior debt holders, Sun America and Transamerica Life Cos., and a Los Angeles-based venture capital firm on a restructuring of the company’s debt, along with an infusion of $15 million in new money. Standard Brands operates 135 paint stores serving the do-it-yourself market in the West.
