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JACK ECKERD CORPORATION PLANS INITIAL PUBLIC OFFER

 JACK ECKERD CORPORATION PLANS INITIAL PUBLIC OFFER
 CLEARWATER, Fla., April 9 /PRNewswire/ -- Jack Eckerd Corporation


announced today that it plans to file a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. The company also plans to file a registration statement relating to the public offering of subordinated debt securities. The company expects that the proceeds of the offerings will be used to reduce its outstanding debt and redeem its preferred stock. The company will seek consents and waivers from its principal lenders necessary to consummate these transactions. The offerings will be made only by means of a prospectus.
 Jack Eckerd Corporation is a major retailer serving consumers in the principal markets of the Sunbelt. Its primary business is the 1,669 Eckerd drug store chain which operates in 13 states. Other operations include a 36-unit optical chain in five states, 46 Visionworks optical chain superstores in five states, 328 Express Photo labs in five states and Insta-Care Pharmacy Services serving institutional facilities in six states.
 -0- 4/9/92
 /CONTACT: Michael Zagorac Jr. of Jack Eckerd Corp., 813-398-8318/ CO: Jack Eckerd Corporation ST: Florida IN: REA SU: OFR


AW-BR -- FL002 -- 6585 04/09/92 08:34 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
Words:206
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