Caldor Corp. makes announcement.NORWALK Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but , Conn.--(BUSINESS WIRE)--August 23, 1995--The Caldor Caldor was a chain of discount department stores based in the Norwalk, CT. The chain declared bankruptcy in 1995 and closed all of its stores on May 15, 1999. History Beginning Corporation reported today that it knows of no reason for the recent heavy trading in its stock other than that it, like many other retailers, in the Northeast and Mid-Atlantic markets, is experiencing sluggish sales. The Company added that it has recently announced a new real estate-backed facility with Chemical Bank for approximately $37 million. This facility supplements the Company's cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. , which it believes are adequate to meet its anticipated needs. There has been no disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. of shipments and the Company continues to have a positive relationship with its lenders. The Company has recently announced Second Quarter Earnings of $0.20 per share. CONTACT: Wendy Kopsick Kekst & Company (212) 593-2655 |
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