Baker Communications files for bankruptcy.BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Calif.--(BUSINESS WIRE)--May 16, 1995--Baker Communications Inc. Tuesday announced that it has filed for reorganization under Chapter 11 of the Federal Bankruptcy Act Many statutes have been known as the Bankruptcy Act.
The company has been in discussion with a potential unidentified buyer and has deemed the discussed price to be totally inadequate and not in the best interests of all its shareholders. The company, through its representatives, has been in discussion with several potential buyers and it believes that a sale will be consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. in the next 120 days. All properties are operating profitably, and the company expects 1995 to be a record year of operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . No management changes are contemplated after the sale takes place. CONTACT: Baker Communications Inc., Beverly Hills Seth Baker, 310/275-9975 |
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