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GENERRA SPORTSWEAR SEEKS CHAPTER 11 PROTECTION

 GENERRA SPORTSWEAR SEEKS CHAPTER 11 PROTECTION
 SEATTLE, July 2 /PRNewswire/ -- Generra Sportswear Co. Inc. has


announced it will seek protection under Chapter 11 of the Federal Bankruptcy Code.
 "In April 1992, we restructured our debt," said Steve Miska, Generra chairman and chief executive officer. "This restructuring imposed significant limitations on our ability to operate efficiently and meet customer needs. Chapter 11 will enable us to restructure our existing debt and deal with our manufacturers. Our manufacturers have agreed to finance our product needs, and this is a good indication of their continued support," he said.
 The company's initial reorganization includes discontinuing the company's juniors' and girls' clothing divisions and layoffs of some employees.
 "We believe this action will insure that Generra will be poised to continue to receive and ship product to meet our customers' needs," said Miska. "By re-sizing and concentrating on our most popular lines we're taking positive steps to improve the company's future.
 "Our actions reflect the reality and impact of recent events in the marketplace," Miska said. "We have been greatly impacted by a slow economy and shrinking retail community."
 Launched in 1980 by a group of former Brittania Sportswear executives, Generra quickly grew from a small start-up company to a powerful force in the young men's sportswear business. Company principals Charles C.K. Yeung, Steven M. Miska, Daniel F. Prentice and S. Anthony Margolis sold the company to Texas-based Farah Manufacturing Co. in 1984.
 Five years later the Seattle management team brought their company back in a leveraged buyout.
 In the period since the buyout, Generra has continued its tradition of developing popular high-quality sportswear including its newest line of Bluestone products. Proprietary trademarks include "Generra," "Select Corps," "Bluestone," "Brezza Marina," "Hyercolor" and "Hyper-Grafix."
 Generra is headquartered in Seattle at 278 Broad Street.
 GENERRA SPORTSWEAR CO.
 FACT SHEET
 HEADQUARTERS:
 Seattle
 ADDRESS/PHONE:
 Generra Sportswear Co. Inc.
 278 Broad Street,
 Seattle, WA 98121
 206-728-6888
 PRINCIPALS:
 - Charles C.K. Yeung, director, chairman and chief executive
 officer of the Glorious Sun Group
 - Steven M. Miska, chairman, chief executive officer
 - Daniel F. Prentice, president and chief operating officer
 - Russell C. Riggins, executive vice president of Finance and
 Administration
 - Richard A. Muller, executive vice president of Merchandising
 - Paul C. Chan, secretary/treasurer
 SUBSIDIARIES:
 - Generra Sportswear (H.K.) Limited, a Hong Kong corporation
 - Generra Retail Corp., a Washington corporation
 - Generra Production Corp., a Washington corporation.
 TRADEMARKS:
 Generra, Select Corps, Bluestone, Brezza Marina, Hypercolor, Hyper-Grafix
 COMPANY HISTORY:
 The company was founded in 1980 by Charles C.K. Yeung, Steve Miska, Dan Prentice and S. Anthony Margolis, as a designer and distributor of high-quality sportswear for fashion-conscious customers.
 The company was sold to Farah Inc. ("Farah") in 1984.
 In July 1989, the management team of Yeung, Miska, Prentice and Margolis completed a leveraged buy-back of Generra from Farah.
 Generra started with a young men's line in 1980, added the juniors' line in 1983 and the "Giovane" boys' line in 1985 and the "Giovinezza" girls' line in 1986.
 In January 1991, Generra began showing a line of basic garments dyed with a thermal-sensitive garment dye obtained from Japan under an exclusive contract.
 In February 1992, Generra formed Generra Production Corp. to manufacture Generra's Hypercolor and Hyper-Grafix products.
 -0- 7/2/92
 NOTE TO EDITORS: Full company background information and biographies of principals is available by calling Gretchen Bakamis.
 /CONTACT: Steve Miska of Generra Sportswear, 206-728-6888; or Gretchen Bakamis of Elgin Syferd, 206-621-6482, or after hours, 206-324-6164, for Generra Sportswear/ CO: Generra Sportswear Co. Inc. ST: Washington IN: TEX SU: BCY


TB-LM -- SE013 -- 6407 07/02/92 20:42 EDT
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Publication:PR Newswire
Date:Jul 2, 1992
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