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

DATE: THURSDAY, March 12, 1992                   TAG: 9203120099
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

JUDGE TO OK REVCO REORGANIZATION PLAN

U.S. Bankruptcy Judge Harold F. White of the Northern District of Ohio said Wednesday he will confirm the Revco reorganization plan, as well as the plan for the drug store chain's parent, Anac Holding Corp. The Revco plan is expected to take effect within four to six weeks following confirmation later this month.

Gregory K. Raven, Revco executive vice president and chief financial officer, noted that Revco now had its $100 million working capital line of credit in place. The financing is being underwritten by the CIT Group/Business Credit Inc.

Revco operates 1,150 drug stores in nine Eastern states, including outlets in the Roanoke Valley. The privately held company reported annual sales of $1.9 billion. - Staff report

by CNB