Nutri-System sale hits snags
A deal has been cut to sell Nutri/System Inc. to a group of Philadelphia investors, but it can't be completed until "some legal hang-ups" are resolved, a spokesman for the company's franchisees said yesterday. He said the problems stemmed from the pending divorces of "one or two" of the three current shareholders and the need to regain control of the stock from their estranged wives.
The Blue Bell, Pa., company closed 283 company-owned centers around the country, including 19 in Maryland, after lenders seized its cash and bank accounts Wednesday night. The Easton franchise was not affected by the action.
Frederick Foundry shuts division
Frederick Foundry and Machine Co. has closed one of its two divisions and laid off 35 workers. The Frederick-based company said it will keep 15 workers at its pump division, but shut down its foundry division.
The 103-year-old firm, formerly called Frederick Iron and Steel, has been through several changes in the past decade. In 1985, the company became an employee-owned operation, but was taken over in 1989 by new owners, who changed the name to Frederick Foundry and Machine Co.
Air partners to share flight codes
British Airways Plc said yesterday it will begin sharing flight codes with its new U.S. partner, USAir Group Inc., today as planned.
The move will allow transferring passengers a single check-in and automatic baggage transfer on USAir domestic services connecting with BA's trans-Atlantic flights.
Bethlehem raises plate prices
Bethlehem Steel Corp., which owns the Sparrows Point steel mill, announced a price increase of about 2 percent for its plate products, effective with shipments on July 4. About 15 percent of Sparrows Point's production is plate.
The company has said price increases are necessary for it to return to profitability.
Iglehart will rejoin Pinkard
W. C. Pinkard & Co., a Baltimore real estate company, said yesterday that former president Philip C. Iglehart will rejoin Pinkard as a principal in charge of serving institutional real estate investors.
Mr. Iglehart was president of Pinkard from 1974 to 1982, when he left to join the RREEF Funds. After a tour at Alex. Brown Kleinwort Benson, the nation's eighth-largest real estate investment adviser, he joined Cushman & Wakefield in 1991 as a managing director.