OTHER NEWS - Nov. 5, 1992

Cardis to Sell Warehouses: Cardis Corp. said Wednesday that it has signed a letter of intent to sell four of its nine warehouses to raise cash to pay off debt. The Buena Park-based distributor of auto parts would not identify the potential buyer or disclose terms of the deal until it is completed, probably by February. Cardis proposes to sell the Sacramento, Fresno, Hayward and Ventura warehouses that make up its Northern California operation. Together, they account for about a third of the company’s sales, which were $73.3 million for the latest fiscal year. If the deal is completed, Cardis would still own five warehouses in Southern California and 22 Carquest retail auto-parts stores. Proceeds from the sale would go toward paying off liabilities that total more than $34 million.