Smith Corona files for bankruptcy

Wednesday 05 July 1995 23:02 BST

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Smith Corona files for bankruptcy

Smith Corona, the Connecticut-based maker of typewriters and personal word processors, yesterday filed for bankruptcy in a United States court and announced that it was embarking on a restructuring effort to try to reverse recent losses. The development is an embarrassment to Hanson Industries, which holds 48 per cent of Smith Corona and has four seats on its board. Hanson bought all of Smith Corona in 1986, but spun it off as an independent concern three years later.

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