THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Monday, April 8, 1996 TAG: 9604060187
SECTION: BUSINESS WEEKLY PAGE: 15 EDITION: FINAL
SOURCE: By Juanita Raisor
LENGTH: Short : 50 lines
NOTICES
J.P. Morgan Securities Inc. will market $60 million in general obligation bonds for the City of Norfolk, with an effective yield of 5.3331 percent on the 20-year issue. The city said proceeds from the sale will be used to fund cash flow needs for capital improvement projects.
NEW BUSINESSES
Blimpie, a national submarine sandwich shop, will expand into the Peninsula next month. Its first store is slated to open May 1 inside the Shell gas station at 1133 W. Mercury Blvd. in Hampton, at the intersection of Mercury Boulevard and Coliseum Drive.
Patrick Smith, owner of the Shell station, bought rights to the Manhattan, N.Y.-based sub chain in Newport News and Hampton last year. In addition to subs, Blimpie will serve soups and desserts. Smith closed the 30-year-old gas station Feb. 15 for renovation in order to make room for Blimpie.
He plans to reopen the station, equipped with a remodeled convenience mart and pay-at-the-pump credit-card readers, by mid-month.
BANKRUPTCIES
Business bankruptcies filed in U.S. Bankruptcy Court in Norfolk:
Melvin R. Warren and Linda B. Warren, farming, filed Chapter 12 debt repayment plan on March 21. Assets and liabilities were not available.
R&W Builders filed Chapter 11 in 1992 and the case was reopened March 27, with assets of $48,000 and liabilities of $77,598.07.
Stephen E. Croxton and Sharon D. Croxton, private construction, filed Chapter 7 liquidation on March 27. Assets and liabilities were not available.
Alfred L. Worthy, Alfred L. Worthy & Co., filed Chapter 13 debt repayment plan on March 27 with assets of $5,165 and liabilities of $54,488.38.
Carter W. Taliaferro, medical physicist inspector, filed Chapter 7 liquidation on March 28 with assets of $137,663 and liabilities of $114,132.
CONTRACTS
Blueridge General Inc. in Norfolk received a $4.4 million contract for a deployment training facility at Ft. Eustis. MEMO: Digest reports news of record about businesses in Hampton Roads.
Items accepted include reports of mergers, acquisitions, relocations,
significant expansions, substantial government contract awards, national
honors and awards.
Information should be sent to Juanita Raisor, Business News, 150 W.
Brambleton Ave., Norfolk, VA 23510. by CNB