New worries about the huge debts that corporations have been building up
It came as no surprise, but the announcement was a shock anyway. AM International, the 58-year-old maker of office machinery, last week filed for bankruptcy. The company, once known as Addressograph-Multigraph Corp., borrowed heavily over the past several years in a hasty attempt to modernize and expand its line of office equipment. The project proved too costly, and AM International ran up debt that last week
totaled $465 million. After
losses of $245 million in 1981 and more red ink expected this year,...
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