John Roberts, the Biddeford coat manufacturer, which has been struggling with fi

Source

Maine Sunday Telegram

Date

8-28-1994

Pages

1F, 7F

Abstract

John Roberts, the Biddeford coat manufacturer, which has been struggling with financial problems for years, shut down the factory on August 11 after it was unable to make its payroll. The Finance Authority of Maine, in the past one of the company's staunchest supporters, is refusing to lend any more support. Presidential Finance Co. of Atlanta has agreed to loan the firm money, and lead investor Apparel Management Group has asked FAME to make some concessions so the deal can go through. A critical court hearing is set for Friday, and FAME and AMG are trying to resolve their differences before then. Details.

Subjects

John Roberts Inc -- Biddeford

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