
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, April 4, 1990                   TAG: 9004040198
SECTION: BUSINESS                    PAGE: A9   EDITION: METRO 
SOURCE: Staff and wire reports
DATELINE: RICHMOND                                LENGTH: Short

BANKRUPTCIES HIGHER IN VA.

Corporate bankruptcies increased 27 percent in Virginia during 1989, while bankruptcies across the nation fell by 13 percent last year.

All but one business category showed bankruptcy increases in 1989 over 1988, when the total was 928. The exception was mining, where the number of filings dropped from 16 to eight.

In U.S. Bankruptcy Court in Roanoke, Townside Partners Ltd., the Richmond owner of Edgehill Apartments off Franklin Road in Southwest Roanoke, has filed for reorganization. Twenty of its largest creditors have claims for more than $618,000 against the company.

Other filings included: Roy E. and Marsha Taylor, formerly doing business as Unibody Collision Service in Roanoke, liquidation, debt of $270,233 and assets of $89,125.

A.F. and Nancy P. Barker, owners of Trainstation Marketplace, a Bristol restaurant, liquidation, $6.8 million in debt and assets of $127,100. The restaurant's actual debt is about $2.3 million and the rest is from a family business, said H.G. Peters, the Barkers' lawyer.

Joseph B. and Judy C. McClanahan of Glade Spring, trading as McClanahan's Body Shop, wage-earner plan, debt of $319,442 and assets of $154,500; J&R Upholstery of Abingdon, owned by Rosemary Owens, reorganization, debt and assets of less than $100,000; Larry Crabtree Trucking of Coeburn, liquidation, debt of $22,707 and assets of $190.

by CNB