NEWS BRIEFS.(Brief Article)

HEILIG-MEYERS CO. and its wholly owned subsidiaries, along with the Official Committee of Unsecured Creditors, have filed a Joint Plan of Reorganization and Disclosure Statement with the U.S. Bankruptcy Court for the Eastern District of Virginia. Under the terms of the proposal, the company's creditors will receive interests in a liquidation trust in settlement of their claims with the struggling furniture retailer.

The reorganization plan calls for liquidation of all the Heilig-Meyers' subsidiaries except HMY RoomStore Inc., which will emerge as a reorganized business. All other ...

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