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

DATE: TUESDAY, August 23, 1994                   TAG: 9408230093
SECTION: BUSINESS                    PAGE: C8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

The Grief Cos., a manufacturer of menswear marketed under the Perry Ellis, Kilgour, French & Stansbury, and Grays by Gary Wasserman labels, said Monday it will close its factory at Verona in Augusta County. The plant, which employs 525, has work scheduled through October, the company said.

Greif, a division of Genesco Inc. of Nashville, Tenn., said it has too much manufacturing capacity for its present volume of business. The company also operates plants in Allentown and Shippensburg, Pa.

- Staff report

Stock conversion OK'd for thrift

The Office of Thrift Supervision has approved the plan of Southwest Virginia Savings Bank of Roanoke to convert from a mutual to a stock savings bank, the company said Monday.

Southwest Virginia had previously formed a company, SWVA Bancshares Inc., to serve as a holding company for the bank.

The holding company is offering 718,750 shares of stock at $10 a share. The stock is being offered to customers of the bank and to the general public. Preference will be given to people who live in the Roanoke Valley.

A prospectus and proxy statement were mailed Monday to customers and some area residents.

- Staff report