OTHER NEWS - March 12, 1992

Judge OKs Revco Reorganization Plan: A bankruptcy judge in Akron, Ohio, confirmed a reorganization plan submitted by Revco, clearing the way for the drugstore chain to emerge from more than three years in Chapter 11. Judge Harold White’s ruling was expected after creditors representing 99.74% of claims against the company voted in support of the plan, under which the chain will be backed by a Chicago investment firm. The Twinsburg, Ohio, company, one of the nation’s largest drug chains with 1,150 stores in nine states, was forced to seek protection from creditors in July, 1988, two years after it was taken private in a $1.3-billion leveraged buyout that loaded it with debt.