RALPHS GROCERY CO., Compton, Calif., said it has retired its 13.75% senior subordinated notes totaling $145 million with a new issue that mirrors its 11% senior subordinated notes but carries an effective yield of 10% because they were sold at a premium price, company officials said.
ng means it must pay nearly $1.9 million to Danka Industries, St. Petersburg, Fla., an affiliate of Danka Business Systems, London -- the company that purchased Arden's communication equipment business, Telautograph, in September 1993. The payment constitutes an adjustment to Danka's purchase price -- which had been the subject of dispute regarding the valuation of certain parts of the inventory -- and will result in Arden recognizing a net loss from discontinued operations of approximately $2.6 million in the first quarter of 1997.
TESCO, London, said it will open 26 U.K. stores this year and up to eight stores in Central Europe next year. The company said last month it will acquire the food retailing assets of Associated British Foods, including three Irish supermarket chains. Tesco reported pretax profit of 750 million pounds on sales of 14.98 billion pounds for the year ended Feb. 22.
RICHARD E. GOODSPEED, president and chief operating officer of Vons Cos., Arcadia, Calif., will be honored as Food Industry Executive of the Year by the Food Industry Management Program at the University of Southern California's Marshall School of Business. He will receive the award at the program's 38th annual banquet April 23 in Los Angeles.
