Moneysworth shoe repair misses '99 filing deadline

Article Abstract:

Moneysworth & Best Shoe Care Inc. (Toronto) revealed that it will miss the deadline to file its 1999 financial statement and is trying to restructure its debt. The company, which operates shoe repair outlets, is in the process of approving a new auditor, as its auditor Deloitte & Touche resigned. Moneysworth reported long-term debt of $3.7-million, a $1-million debenture payment owned as a current liability and $1.2-million in bank debt. The company has struggled since it purchased US rival Adcor Products Inc. in January 1999, for $3-million in shares and $2.9-million in cash. The company had revenue of $15.3-million in 1999, a rise from 56% in 1998. The company expects to have the filing completed within 30 days, but would miss yesterday's deadline to file audited financial statements for the year ended December 31.

Shoe repair and shoeshine parlors, Shoe Repair Services, Footwear and Leather Goods Repair, Services industry, Service industries, Shoe repair, Moneysworth and Best Shoe Care Inc.

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Creditors scramble to recoup $27.2-million

Article Abstract:

Livent Inc. creditors are hoping to recover total bills of C$27.2 million after the company filed for bankruptcy protection in Canada and the US. Livent, with 15,000 creditors and total debt of C$334 million, including mortgages and debentures, must file for a reorganization plan by February 1999 that will be voted upon by its creditors. Echo Advertising & Marketing of Toronto, Ontario, for one, is looking to recover bills of $3 million from Livent and is set to lay off some employees due to lack of funds.

Comment:

Creditors are hoping to recover total bills of C$27.2 mil after company filed for bankruptcy protection in Canada & US

Performing Arts Companies, Theatrical & Concert Artists & Producers, Livent Inc., Article

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Printing woes push Quebecor to 2nd-quarter loss

Article Abstract:

Quebecor Inc. has reported strong earnings at its media unit and at Videotron Ltee, its cable television division. But Quebecor, which is led by chief executive officer Pierre-Karl Peladeau, has reported a second quarter loss of $28.1 million.

Cable Television Systems, Cable Networks, Cable and other pay TV services, Printing & Publishing, Finance, Cable television broadcasting industry, Cable television, Printing industry, Company financing, Quebecor Inc., Videotron Ltee.

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