Smith Corona Reviews Buyout Offers

Tue., Oct. 10, 1995

From Staff And Wire Reports

Typewriter maker Smith Corona has received several buyout offers and is reviewing them as part of its reorganization while in bankruptcy, the company said Monday.

None of the offers would cover all creditors’ claims, the company said.

“The board is still reviewing all of the proposals. If they find one that is very appealing, they will try to go forward with that one,” said spokesman Richard Wool.

A Swedish company, Facit, announced Friday that it had submitted one of the offers.

Officials at Smith Corona would not say how many offers it has received, or who submitted the proposals.

Smith Corona filed for bankruptcy July 5 amid a shrinking market for typewriters.

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Smith Corona Reviews Buyout Offers

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