HZDG To Create Campaogn For ICC In '17 Cubs Rolling Out "That's Cub" Campaign Florida Selects HOK To Design Football Facility Budapest Drops Out Of '24 Games Race USATF Acquires Penn Relays Media Rights Monster Energy Keeping NASCAR Girls' Outfits Dolphins Welcome Back Former Players LSU Athletics Turns $12M Profit In '15-16 Robert Kraft Profiled By "Real Sports" Bucks' New Video Board Goes Against NBA Grain
SBD/7/Sponsorships Advertising Marketing
RYKA ASKS SUITOR L.A. GEAR FOR A PRE-MARRIAGE LOAN
Published April 7, 1995
Ryka Inc. is asking L.A. Gear for a short-term loan and is seeking to renegotiate the terms of the companies' acquisition agreement. Ryka said, in a statement, that failure to reach a revised deal "will result in termination of the merger agreement." Under the deal, L.A. Gear would acquire Ryka for cash and stock valued at $16.4M. The acquisition was scheduled to close by this summer. Ryka said it has exceeded its borrowing limit with its primary lender, Heller Financial, and it needs a loan from L.A. Gear. Ryka's "financial woes come at a critical time" when athletic-footwear makers begin factory runs for back- to-school shipments (Joseph Pereira, WALL STREET JOURNAL, 4/7). TIMBER! Timberland is featured in today's USA TODAY "company spotlight." The piece notes that Timberland's stick has "slumped more than 13% since Tuesday, when the company announced that 1st & 2nd quarter earnings would be "significantly below" expectations (USA TODAY, 4/7).