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Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, October 12, 1999

King Street eatery files Chapter 11

Maruni International Hawaii Inc., doing business as Jan Jan On King restaurant on South King Street, has filed for Chapter 11 bankruptcy.

Initial filings in U.S. Bankruptcy Court last week show about $1 million in assets and $1.4 million in debts. The Japanese food restaurant has been operating for the past three years at 1939 South King St., former site of King's Bakery & Coffee Shop. The company acquired a master lease on the property from landowner R & T Taira Family Limited Partners -- former operator of King's Bakery -- listed among major creditors in the bankruptcy.

A civil lawsuit brought by R & T Tiara seeking eviction of the restaurant operator is on hold pending outcome of the bankruptcy. According to Ted Pettit, attorney for Maruni, the landlord's move to take possession of the property followed a dispute over lease terms and a leaky roof.

CompUSA complains about lack of Apples

DALLAS -- CompUSA Inc., the largest U.S. retailer of personal computers, said it didn't receive as many of Apple Computer Inc.'s new iBook notebook computers or low-cost iMac personal computers as it had hoped.

CompUSA received enough iBooks to cover advance orders with a few left over for its stores, said Suzanne Shelton, CompUSA director of public relations. The chain didn't get any of the new $999 iMacs, though it did take delivery of two new higher-priced iMacs.

Apple warned analysts last month that the Taiwan earthquake disrupted production of iBook and PowerBook notebook computers.

Hertz top executive to retire on Dec. 31

PARK RIDGE, N.J. -- Frank A. Olson will retire as chief executive of the Hertz Corp. on Dec. 31 after a 23-year tenure, but continue as chairman of the car rental company. Craig R. Koch, president and chief operating officer, will succeed Olson as CEO.

Olson, a 35-year veteran at Hertz, has also held senior positions with two of the company's former parent companies, RCA Corp. and Allegis Corp.





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