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

DATE: TUESDAY, May 8, 1990                   TAG: 9005080304
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short

BUYOUT CAUSED '89 LOSSES, BEST SAYS

Best Products Co. Inc. blames a highly leveraged buyout for its $53.8 million loss for fiscal 1989 on sales of $2.095 billion.

The Richmond-based discount catalog and showroom retailer, which was acquired in late 1988 by the New York investment firm of Adler and Shaykin, said last week it expected the losses because of higher interest payments and other expenses from the buyout.

Interest income for 1989 increased $83.7 million to $147.8 million, Best said. Other expenses increased $14 million in 1989.

- Associated Press

by CNB