Vons Cos. had a $4.9-million loss in 1986.
- Share via
The El Monte-based grocery company, which was converted to private ownership in a highly leveraged buyout last year, said in a filing with the SEC that the loss resulted from high interest costs and the lingering effects of a strike in late 1985. The filing was made in anticipation of the company’s merger with Allied Supermarkets, a Detroit company. That deal, which will result in Vons’ going public again, will produce indebtedness of about $567 million, the company said. However, much of that will be alleviated by the sale of stock to the public.
For the record:
12:00 a.m. March 30, 1987 FOR THE RECORD
Los Angeles Times Monday March 30, 1987 Home Edition Business Part 4 Page 2 Column 3 Financial Desk 1 inches; 35 words Type of Material: Correction
Vons Cos. of El Monte does not plan a public offering of stock after it merges with Allied Supermarkets and becomes a publicly traded company. It was incorrectly reported in Thursday’s Briefly column that such an offering was planned to alleviate debt.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
