Bristol Retail to Cut Its Work Force 10%

Bristol Retail Solutions Inc. said Friday that it will cut its work force by 10% and take a large write-down that will result in a “substantial” loss for fiscal 1997. The Newport Beach provider of retail automation products and services said the moves will cost $3.8 million to $4 million and will be recorded in the fourth quarter ended Dec. 31. For the nine months ended Sept. 30, Bristol reported losses of $1.4 million, or 28 cents a share, on revenue of $14.4 million. The company said it will take charges of $1.3 million to $1.5 million for goodwill and inventory related to prior acquisitions, and $2.5 million to terminate several lease agreements and dismiss 25 employees. Bristol shares fell 6%, or 19 cents, to $2.75 in Nasdaq trading Friday.