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

DATE: SATURDAY, April 20, 1991                   TAG: 9104200234
SECTION: BUSINESS                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

BANKRUPTCIES . . .

Petitions for reorganization under protection of bankruptcy law have been filed in U.S. Bankruptcy Court by Pulaski County Speedway and MEL Enterprises, its real estate holding company. Both were listed at Route 2, Radford. The speedway listed more than $350,000 in claims by its 20 largest creditors. Its petition estimates total debt at more than $1 million, with assets estimated at less than $500,000. Two of the three partners in the speedway filed an involuntary petition for the real estate business. MEL Enterprises and the speedway are co-makers of loans, according to Bruce Stockburger, lawyer for the speedway.

In other newly filed business petitions:

Economy Storage of Vinton Inc., asked for reorganization, reporting $691,000 in debt and assets of $925,000.

Danny Saunders Enterprises of Blue Ridge, filed for liquidation of a former restaurant, Orange Dog No. 2, at East Market Square shopping center on Orange Avenue, Northeast; Saunders reported debt of $32,400 and assets of $800.

Rich Creek Provision Co. of Giles County, a food distribution firm headed by Quinton C. Coulter, asked for liquidation, listing debt of $259,939 and assets of $104,255.

Aubrey Dean Mumpower of Bristol, doing business as Mumpower Landscaping and Logging, filed under a wage earner plan, estimating debts and assets at less than $100,000.

by CNB