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DISC TECHNOLOGY FILES FOR CHAPTER XI BANKRUPTCY PROTECTION

Disc Technology Corp has withdrawn its offer of convertible preference shares (CI No 741) and has filed for Chapter XI bankruptcy protection, saying that it had suffered delays in reaching agreement with some of its investors in restructuring its debt: the company, making small Winchester platters in Bille-rica, Massachusetts, had a third quarter loss of $2.0m on sales of just $882,000; it will file a reorganisation plan within 30 days.

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CBR Staff Writer

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