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MARCADE CONCLUDES AN EXTENSION OF THE FORBEARANCE PERIOD UNDER ITS AGREEMENT WITH HELLER FINANCIAL

 MARCADE CONCLUDES AN EXTENSION OF THE FORBEARANCE PERIOD
 UNDER ITS AGREEMENT WITH HELLER FINANCIAL
 NEW YORK, April 30 /PRNewswire/ -- The Marcade Group, Inc. (NYSE: MAR) announced today that it had successfully concluded an extension of the forbearance period (to July 31, 1992) under its definitive restructuring agreement with its senior lender, Heller Financial, Inc. This will enable Marcade to continue to pursue the sale of an operating subsidiary or other restructuring plans, assisted by its financial consultants, Bear Stearns & Co., in order to consummate a restructuring of Marcade's debt. Marcade also obtained an extension for a similar period from BNY Financial Corporation, relating to Marcade's guaranty to BNY of the obligations of RJMJ, Inc., Marcade's subsidiary.
 Charles S. Ramat, Marcade's chairman and chief executive officer, stated, "We are continuing to work on the restructuring of Marcade's debt utilizing the values and earnings generated by Marcade's remaining subsidiaries."
 -0- 4/30/92
 /CONTACT: Charles S. Ramat of Marcade Group, 212-935-8484/
 (MAR) CO: Marcade Group, Inc. ST: New York IN: TEX SU: FNC


SH-OS -- NY073 -- 4989 04/30/92 13:21 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
Words:180
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