OTHER NEWS - Aug. 10, 1992
From Times Staff and Wire Reports
Interco Out of Bankruptcy: Interco Inc. has emerged from bankruptcy court protection with new owners and a sharply reduced debt load. During its 18-month reorganization, the company shed $1.7 billion of the $2.4 billion in debt that led to its downfall. Interco managed to hold on to some of its best assets through its reorganization: footwear makers Converse and Florsheim and furniture makers Lane and Broyhill. The firm reached a deal with creditors in March on a reorganization plan that gave creditors all its stock.
