OTHER NEWS - May 19, 1992

Bondholders Have Own Plan for Macy’s: R. H. Macy & Co. bondholders are seeking to file their own reorganization plan for the department store company, an attorney said. Macy has asked U.S. Bankruptcy Judge Burton R. Lifland for an extension in filing its own reorganization blueprint. But bondholder attorney Robert Miller said his clients oppose that request and are prepared to file their own restructuring plan. Under federal law, Macy has 120 days from its Jan. 27 bankruptcy petition to file a reorganization plan without competing with proposals from other parties. Lifland is to consider Macy’s request and the bondholders’ objection at a hearing today.