
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, May 18, 1990                   TAG: 9005180571
SECTION: VIRGINIA                    PAGE: B7   EDITION: METRO 
SOURCE: george kegley
DATELINE:                                 LENGTH: Short

SINGER FURNITURE PURCHASED MANAGEMENT GROUP IS BUYER

Singer Furniture Co., which employs roughly 700 people in a plant on Hollins Road Northeast in Roanoke, has been sold to a management-led group, including private investors, in a leveraged buyout.

The sale was announced this morning by Ernest J. Szilagyi, Singer's chief executive officer. SFC Holding Co., which was formed to conduct the buyout, bought Singer from Bilzerian Partners Ltd.

Accompanying the announcement of the sale, Szilgayi announced organizational changes within the company aimed at accelerating cost and quality improvements started last year.

Dennis A. Ammons, formerly vice president of operations with Singer, has been elevated to the position of president and chief operating officer.

Singer has been for sale for two years. - Staff report

by CNB