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LIQUOR BARN INC. CHAPTER 11 REORGANIZATION FILING

 SAN DIEGO, April 14 /PRNewswire/ -- Intermark Inc. (AMEX: IMI) and its wholly owned subsidiary Triton Group Ltd. today announced that an involuntary petition under Chapter 11 of the U.S. Bankruptcy Code has been commenced by certain trade creditors against its majority owned subsidiary Liquor Barn Inc. The filing occurred late yesterday, April 13, 1993, in the Northern District of California.
 Negotiations with these and other trade creditors, which had formed an unofficial committee of creditors, have been underway since early February when Liquor Barn changed management and announced that it would be downsizing and converting the chain from 28 locations to an eight mega-store warehouse operation.
 John C. Stiska, president of Intermark and Triton, said, "We were disappointed that certain trade creditors decided to file this involuntary petition against Liquor Barn. The new management team at Liquor Barn is well underway in its restructuring of the chain into the warehouse concept. The transition has required the cooperation of the trade creditors because of unpaid account balances."
 Liquor Barn is one of seven operating companies of which Intermark and Triton own all or a substantial interest. Nothing in the filing against Liquor Barn is expected to delay the progress of the pending Chapter 11 cases of Intermark and Triton. A disclosure statement has been approved by the court in their Chapter 11 reorganization, and a hearing date for confirmation of their plan of reorganization has been set for June 4, 1993.
 -0- 4/14/93
 /CONTACT: John C. Stiska, president, or Michael M. Earley, senior VP and CFO, of Intermark, 619-231-1818/
 (IMI)


CO: Intermark Inc.; Triton Group Ltd.; Liquor Barn Inc. ST: California IN: REA SU: BCY

LS-JL -- SD005 -- 5959 04/14/93 20:52 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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