ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, September 7, 1996 TAG: 9609090086
SECTION: BUSINESS PAGE: A-4 EDITION: METRO
The chain said it has run out of space at its 88,000-square-foot headquarters in Richmond. The new building, with 210,000 square feet, should be completed by September 1997.
Heilig-Meyers operates more than 750 stores, up from 374 five years ago.
- Associated Press
Bankruptcies
Two bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. One of them is a personal bankruptcy that the court listed as a business because it has commercial connections and could be of interest to business creditors and customers.
New River Valley Tree Specialists Inc. of Blacksburg, a tree and landscape service, filed for liquidation with assets of $50 and liabilities of $96,516.
Larry Allen Proffitt Jr. of Doran, who traded as Italian Village, filed for liquidation with assets of $4,143 and liabilities of $55,693.
- Staff report
Briefly ...
McDonnell Douglas Corp. and its Machinists union reached a tentative agreement Friday on ending a three-month strike by 6,700 workers at the aerospace company's St. Louis plant.
The United States has slapped a $19 million charge on China for shipping textile products in violation of a 1994 trade accord. The penalty, announced Friday by the office of the U.S. Trade Representative, was levied after the U.S. Customs Service determined China was trying to circumvent textile export quotas by shipping more than 2 million garments to the United States through seven countries.
The Securities and Exchange Commission has charged six people with illegal insider trading in shares of Royce Laboratories Inc. of Florida before announcements by the Food and Drug Administration concerning one of the company's painkillers. Regulators said three employees and three relatives and friends either made profits or avoided losses through insider trades of Royce stock in 1991 and 1992.
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