OTHER NEWS - Aug. 17, 1992
From Times Staff and Wire Reports
Phar-Mor Lays Off 310 More Employees: Phar-Mor Inc., the Youngstown, Ohio, discount drug store chain that has accused some of its top executives of a massive embezzlement scheme, said it will lay off 310 more workers. The company, which operates more than 300 stores, said 260 of the layoffs at its Tamco Distributors Co. inventory operation will be temporary, lasting about six weeks. Two weeks ago, Phar-Mor laid off 510 warehouse employees and 226 headquarters and sales employees after discovering what it said was a $350-million fraud and embezzlement scheme by its president, Michael I. Monus, and chief financial officer, Patrick B. Finn. Monus and Finn were fired, as were two lower-level officials.
