Caldor to get on track

The Caldor discount store chain anticipates being able to emerge from Chapter 11 by Jun 30, 1998. The company cited its improved financial performance as reasons for their optimistic forecast. For example, the company's EBITDAR cash flow reached $50 million in 1997, and Caldor has been able to reduce operating expenses by $19 million over the previous fiscal year. Caldor has submitted a business reorganization plan, and the U.S. Bankruptcy Court is expected to rule on the plan on Feb 13, 1998.
Norwalk, Conn. -- Caldor disclosed that it could get its business reorganization plan approved and into effect by June 30. That would mean emergence from Chapter 11 almost three years [...]