Golden Expects Big Loss in 98

-- Publishers Weekly, 4/5/1999

Golden Books will likely report a "substantially greater" loss in 1998 than in 1997, when the company lost $49 million, according to a document filed with the Securities &Exchange Commission in which the publisher notified the government that it would file its 10-K year-end report on April 15. Such filings are usually due within 90 days after the end of the fiscal year, but Golden said it needed an extension because it did not have enough staff to work out a reorganization plan to bring the company out of Chapter 11 and to complete the 10-K as well.

Meanwhile, a story in the Milwaukee Journal Sentinel said that a group of employees has received a $15,000 grant from the state of Wisconsin to study the feasibility of buying Golden's Sturtevant, Wis., printing plant. Golden put the plant up for sale late last year (News, Dec. 7).

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