TECHNOLOGY - Sept. 24, 1993
- Share via
Computer Firm Files Chapter 11: System Integrators Inc., which makes computers for newspapers and magazines, filed for federal bankruptcy protection to try to get banks to refinance a $56-million loan at lower interest rates. The filing listed $30 million in assets and $81 million in liabilities. Sacramento-based SII did not disclose the interest rate on the loan, which was used to finance a leveraged buyout of company founder Jim Lennane. The prime rate in 1989 was 10.5%, compared to 6% now. The company said it does not plan to lay off any of its 297 Sacramento employees.
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.
