RETAIL
From Times Staff and Wire Reports
Interco Reorganization Plan Approved: Under the plan approved by U.S. Bankruptcy Judge James Barta in St. Louis, the shoe and furniture company said it will leave Chapter 11 protection Aug. 3. Creditors were given all the stock in the reorganized company. Apollo Investment Fund Ltd.--which bought much of Interco’s bank debt and negotiated side deals with other lenders--becomes majority owner. The company operates Converse Inc., the Florsheim Shoe Co., the Lane Co. and Broyhill Furniture Industries Inc.
