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LIQUOR BARN TO BE SOLD

 SAN FRANCISCO, May 3 /PRNewswire/ -- Liquor Barn Inc., a specialty retailer of wines, spirits and beer, today announced that it has retained the Los Angeles-based investment banking firm of Chanin and Co. to search for a buyer for the company. Founded in 1978, Liquor Barn currently operates eight stores. It is also in the process of divesting itself of various locations where Liquor Barn previously operated stores. The company was forced into bankruptcy in early April and is looking for an acquirer able to properly capitalize and support the operations.
 Prior to the filing of the involuntary bankruptcy, Liquor Barn's management had been implementing a plan to convert the stores into "beverage superstores." The plan called for increasing inventories, reducing prices and aggressive advertising. If adequately capitalized, management believes the existing chain can generate annual sales of $50 million.
 Over the past six years, the ownership of Liquor Barn has transferred three times. Kohlberg, Kravis, Roberts & Co. owned Liquor Barn through its 1986 acquisition of Safeway Stores; Majestic Wine Corp., a British retailer, paid $110 million to acquire the then 100-plus store chain in late 1987; and the present shareholders, Intermark Inc. (also currently in bankruptcy) purchased the assets in October 1989.
 For more information about Liquor Barn, contact Kevin Shultz at Chanin & Co. at 310-445-4010.
 -0- 5/3/93 R
 /CONTACT: Louis A. Cesario, president of Liquor Barn, 415-920-7016; or Kevin Shultz of Chanin & Co., 310-445-4010, for Liquor Barn/


CO: Liquor Barn Inc. ST: California IN: REA SU:

BP-LS -- SD007 -- 4065 05/03/93 19:28 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:258
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