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

DATE: SATURDAY, November 19, 1994                   TAG: 9411210033
SECTION: BUSINESS                    PAGE: A8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

The Lotus Biochemical Corp. operation in Radford has not closed temporarily, as a reporter incorrectly wrote in a story on Friday's Business page. The reduction in the company's work force by 16 resulted from the consolidation of Lotus, Insource Inc., and General Injectables and Vaccines Inc. A spokesman for the companies said their business is growing, and the overall reduction stemmed from management's desire to realize efficiencies made possible by consolidating operations.

-Staff report

Bankruptcies

Thirteen bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. One is a personal bankruptcy that the court listed as business because it has commercial connections and could be of interest to business creditors and customers.

Seven mining companies, all from Big Rock in Buchanan County, asked the court to consider their cases jointly. Each asked for reorganization and protection from creditors, estimating both assets and liabilities at less than $50,000. They are Raider Mining Inc. No.3 Mine, Raider Mining Inc., Magic Mining Inc., Gamble Coal Co. Inc., Faith Coal Co. Inc., Empire Coal Corp. and Big Fist Coal Co. Inc.

Brett Enterprises Inc., a coal mining operation at Cedar Bluff, filed for reorganization and protection from creditors, estimating assets and liabilities at less than $50,000.

Willie R. Gibbs Jr. and Donna A. Gibbs of Roanoke, who are in the contracting business, filed for a wage-earner plan for repayment of debts, estimating assets at more than $50,000 and liabilities at more than $100,000.

Lesie Lee Jarrells Jr., owner of a service station at Blacksburg, asked for a wage-earner plan, estimating assets and liabilities at more than $100,000.

Bristol Services Inc., which said it performed services for the federal government at Bristol, filed for liquidation, listing assets of $64,000 and liabilities of $165,368.

Virginia Manufacturing Inc. of Pennington Gap filed for liquidation, citing assets of $1,328,000 and liabilities of $3,022,918. Three creditors had petitioned the court last week to place the company into involuntary bankruptcy.

Billy Joe Nichols and Wanda Jewel Nichols of Abingdon, who formerly operated Maverick Coal, asked for liquidation listing assets of $16,900 and liabilities of $670,314.

-Staff report