RETAILING

Bankruptcy Court Confirms Phar-Mor Reorganization Plan: The Youngstown, Ohio-based deep-discount retailer said it will apply for its stock to be listed on the Nasdaq system within 10 days. Under the plan, an investment group led by Robert Haft will receive 31% of the company. Senior secured lenders will own 49% and the unsecured creditors will own 12%. Haft will become chairman and chief executive of the publicly traded company. Senior secured lenders will receive about $102.5 million in cash and about $92.7 million in principal amount of new senior notes. The company’s founder and former president, Michael Monus, was convicted of a $1-billion fraud and embezzlement scheme that forced Phar-Mor Inc. into Bankruptcy Court on Aug. 17, 1992.