OTHER NEWS - Nov. 26, 1992
From Times Staff and Wire Reports
Carolco’s Financial Problems Growing: The once free-spending company, whose films have included “Basic Instinct” and “Terminator 2: Judgment Day,” said it is in default on a bank credit facility and is negotiating with its lenders. Carolco said it is trying to sell receivables, adding that failure to find alternative financing will result in the company “being unable to continue as a going concern.” Separately, the company said it lost $33.1 million in the third quarter.
