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Posting-Version: version B 2.10.2 9/18/84; site sdcrdcf.UUCP
Path: utzoo!watmath!clyde!bonnie!akgua!sdcsvax!sdcrdcf!alan
From: alan@sdcrdcf.UUCP (Alan Algustyniak)
Newsgroups: net.consumers
Subject: K-tel goes bankrupt
Message-ID: <1374@sdcrdcf.UUCP>
Date: Tue, 9-Oct-84 16:16:40 EDT
Article-I.D.: sdcrdcf.1374
Posted: Tue Oct  9 16:16:40 1984
Date-Received: Thu, 11-Oct-84 07:11:02 EDT
Reply-To: alan@sdcrdcf.UUCP (Alan Algustyniak)
Organization: System Development Corp. R+D, Santa Monica
Lines: 12



The 8 Oct issue of the Daily Variety reports:

K-tel Int'l has files for protection under chapter 11...reported losses
of $11,512,000 for the 1st nine months...made the move after four banks
last week demanded payment of a $12,300,000 loan.

The co. built its business on the sale of licensed, prerecorded music
products through tv ads and retail outlets, and had diversified in recent
years into oil, real estate, housewares, homevideo and computer software.