COMPANY TOWN ANNEX

From Times Staff and Wire Reports

Euro Disney Trims Losses: The ailing European theme park outside Paris said it cut its losses in the first half of fiscal 1994 and has won approval from nearly all its banks on a $1-billion financial rescue package. Euro Disney, 49%-owned by Walt Disney Co., said it lost about $184.9 million in its first half ended March 31, compared to a loss of $757.1 million a year earlier. The smaller loss was largely due to an accounting change in the way the company booked start-up and pre-opening costs. But it said it also achieved a 25% cut in operating expenses.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
61°