Bercor Proposes Sale of Craig: Bercor, a...

Bercor Proposes Sale of Craig: Bercor, a La Mirada consumer products distributor, has filed a reorganization plan that proposes the divestment of its consumer electronics division. Bercor has been developing restructuring proposals since it filed last June for protection under Chapter 11 of the bankruptcy code. If a bankruptcy judge approves, Bercor would sell the assets of its Craig division, an operation that produces automobile stereos and television. Under the plan, Bercor executives would help form a new company. Bercor shareholders would receive shares in the new firm, which would purchase Craig assets.