THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, October 6, 1995 TAG: 9510060601
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Short : 45 lines
PoFolks Inc. is trying to stay out of the po' house. The Kentucky-based family-style restaurant chain, which operates in 16 states, has filed for Chapter 11 bankruptcy protection. In papers filed in U.S. Bankruptcy Court in Lexington last month, the company listed assets of $4.1 million and debts of $15.1 million. Under Chapter 11, a company seeks the court's protection from its creditors until it can develop a plan to put its finances in order. This is the second time the company has filed for Chapter 11. It sought the bankruptcy court's protection in 1987, when the company was based in Nashville. Ovington bought the company in 1989. (AP) Norfolk Southern sells 150 grain cars
Pioneer Railcorp said its Pioneer Railroad Equipment Co. Ltd. unit successfully bid for 150 covered hopper grain cars for an undisclosed amount from Norfolk Southern Corp. Peoria, Illinois-based Pioneer Railcorp said it recently purchased 21 similar grain cars from Consolidated Rail Corp. With the Conrail purchase and successful bid for the Norfolk Southern cars, Pioneer Railcorp said its fleet of grain cars stands at 330 owned and 100 leased for a total of 430 cars. The small Midwest railroad with about 365 miles of track hasn't had enough grain cars to keep up with its customers demands, it said. The purchases should help it meet that demand now. (Bloomberg Business News) Going to Disneyland? Fly for $49
AirTran Airways, a niche airline based in Orlando, is offering $49 one-way tickets as an introductory fare to its service from Norfolk. The airline begins non-stop jet service between Norfolk International Airport and Orlando, home of Disney World and Shaquille O'Neal, on Oct. 16. The $49 fares will be available on flights to Orlando through Nov. 13 and back to Norfolk by Nov. 15. The regular one-way fare will range from $79 to $119. The fares do not require an advance purchase and are not subject to minimum or maximum stay requirements. Tickets are non-refundable. AirTran offers the flight every day except Tuesday. It also provides flights to 16 other cities from Orlando. AirTran is a subsidiary of AirWays Corp. (Staff) by CNB