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MARCADE ANNOUNCES DISMISSAL OF INVOLUNTARY CHAPTER 11 PETITION

 MARCADE ANNOUNCES DISMISSAL OF INVOLUNTARY CHAPTER 11 PETITION
 NEW YORK, Aug. 10 /PRNewswire/ -- The Marcade Group, Inc. (NYSE: MAR) announced today that it had successfully obtained the dismissal of the involuntary Chapter 11 petition which had been filed against it on July 10, by the holders of less than three percent of its subordinated debt.
 The dismissal of the petition will enable Marcade to continue to pursue a comprehensive restructuring in accordance with a proposal Marcade received from an institutional investor to fund such restructuring, as announced on July 12.
 Charles S. Ramat, Marcade's chairman and chief executive officer, stated, "We are pleased with the court's dismissal of the involuntary petition and the removal of this distraction. This will enable Marcade to continue to work on its restructuring utilizing the values and strong earnings generated by Marcade's operating subsidiaries. As previously announced, a basic principle of our restructuring plans will be the continuation of the present arrangement whereby Marcade's operating subsidiaries have no responsibility for Marcade's debts. We are hopeful that the new investor proposal will result in a successful restructuring of Marcade's obligations."
 The Marcade Group, Inc. is a diversified apparel company. It designs and manufactures women's, men's and boy's apparel through its wholly owned subsidiaries.
 -0- 8/10/92
 /CONTACT: Charles S. Ramat of The Marcade Group, 212-935-8484/
 (MAR) CO: Marcade Group, Inc. ST: New York IN: REA SU:


SM-KW -- NY055 -- 8543 08/10/92 13:20 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
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