Leisure Technology to Miss Payment: The Los...
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From Times Staff and Wire Reports
Leisure Technology to Miss Payment: The Los Angeles-based senior-citizen home builder said it will not make the semiannual interest payment due on Oct. 15 on $40 million of its bonds. Leisure Technology--which has been battered by slow home sales and hefty corporate debt, and has missed previous debt payments--also said it has received a tentative commitment from a “substantial” company to provide it with more financing.
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