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Smith Corona Types In `Chapter 11'


In Business This Week

SMITH CORONA TYPES IN `CHAPTER 11'

YOU REMEMBER TYPEWRITERS --rollers, carriage returns, carbon copies. Hard to find these days. That's why Smith Corona, once a leading U.S. typewriter maker, filed for Chapter 11 on July 5. The move came just one working day after SC's board named turnaround firm R.F. Stengel its adviser. Bankruptcy protection should let SC access $20 million in new financing. The company has been trying to reassert itself as a low-cost maker of fax and other personal-business and small-office equipment.EDITED BY KEITH H. HAMMONDS


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