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

DATE: FRIDAY, November 12, 1993                   TAG: 9311120190
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: staff report
DATELINE:                                 LENGTH: Short

BRENDLE'S FISCAL PLAN APPROVED BY COURT

Brendle's Inc., Elkin, N.C. retailer operating stores in Western Virginia, said Thursday that the U.S. Bankruptcy Court has approved its financial reorganization plan.

The plan has the support of the company's creditors.

It provides for an option of a cash payment of 52 cents on the dollar for each allowed unsecured claim. Or an unsecured creditor may select a note in an amount equal to 80 percent of its allowed unsecured claim.

In either case, the creditors also will get a proportionate share of 35 percent of the common stock of the reorganized company.

Secured creditors' claims will be satisfied in full.

by CNB