Skip to main content
The largest online newspaper archive
A Publisher Extra® Newspaper

Dayton Daily News from Dayton, Ohio • 48

Publication:
Dayton Daily Newsi
Location:
Dayton, Ohio
Issue Date:
Page:
48
Extracted Article Text (OCR)

8 DAYTON DAILY NEWS Feb. 28, 1982 Qbce, he was in the chips or orTreacher's chief watches business flounder i-r v' Hoover Co. announces loss of $18.8 million in 1931 NORTH CANTON, Ohio (AP) The Hoover Co. said It lost $13.7 million, or $1.28 per share, In the 1981 fourth quarter, compared with a profit of $3.6 million, or 29 cents per share, In the 1980 period. For the year, Hoover lost $18.8 million, or $1.53 per share.

Sales for the 1981 were $749.9 million, down 10 percent from 1980's record sales of $830.5 million. A received the type of advertising, marketing and support services to which they believed they were entitled under their contracts. In court affidavits filed In recent months, It has been revealed that the Treacher's national empire hai dwindled from 700 franchises to about 400, that Treacher's has borrowed up to Its maximum $10 million credit limit, and that Treacher's may have to default on some loans. By ARTHUR HOWE I I Krttfif Hm tame PHILADELPHIA Since Decern-MTMie has lost 20 million pounds of frozen pollack filets. He has lost mil lions of dollars from hisinear-bankrupt Arthur Treacher's Fish Chips Inc.

fast-food network, and he may be dose to giving up his business empire, Edward J. Piszek, Philadelphia's up-from-the-streets frozen fishcake king, the president of Mrs. Paul's Kitchens Inc. In testimony in a U.S. District Court case here on Feb.

9, Piszek said the array of problems facing his Philadelphia-based company had grown so great that he was negotiating with an undisclosed potential buyer for its sale. Then he added: ARE TRYING our best to get of this entire situation, with our bmes, our families, and try and live du lives in a reasonable manner." jjMrs. Paul's employs about 1,200 people at four area locations. Reached last week at an undisclosed location in Florida, Piszek seemed depressed. have so many problems," he began gloomily.

"I'm over-engulfed with them from every direction. I'm In a little bit of a pathetic position." Splashdown to savings! 20 off ap prospered selling deep-fried wedges of Icelandic cod, a fish believed by fast-food purveyors to possess certain qualities of firmness, whiteness and bland-ness that kept customers returning. But a rebellion developed when, according to Treacher's franchisees, Mrs. Paul's severed the franchisees' Icelandic codfish supply and forced them to buy Mrs. Paul's fish.

THAT'S WHAT started the whole thing," said Franklin Poul, an attorney with Wolf, Block, Shorr Soils-Cohen, who is representing a group of Treacher's franchisees. Until recently, Mrs. Paul's based much of its product line on Alaskan pollack, a small cod-like fish found In the Bering Sea. A fleet of Polish fishermen, working under a quota arrangement with the U.S. government, supplied 20 million pounds of pollack annually to Mrs.

Paul's. To Plszek's dismay, the December declaration of martial law in Poland ended the Polish fish connection, and Mrs. Paul's was forced to turn to Canadian and Korean fishermen for supplies. "Our sales dropped as soon as they (Mrs. Paul's) took over," said Augustine Malerba, who operates seven Arthur Treacher's franchises in the Philadelphia area but has banished the Treacher's name from menus and signs.

"Basically they bought Arthur Treacher's with only the intention for us to buy Mrs. Paul's products." MALERBA, ALONG with dozens of other franchise owners, Is battling Mrs. Paul's In U.S. District Court over $20 million in royalties that Mrs. Paul's claims the franchisees have failed to pay ta an effort to destroy Arthur Treacher's as a corporate entity.

Under terms of the contract, the franchisees pay royalties amounting to 4 percent to 5 percent of gross sales and contribute toward advertising in return for recipes and other services. The franchisees contend they have refused to pay because they have not Piszek declined to discuss the fate of Mrs. Paul's, except to mention "great negotiations going on for tens of million of dollars." Nor would he cont i inent on the financial condition of Ar- hur Treacher's, which Piszek all our swimwear. Seen to such great advantage on Kim Seelbrede Miss USA. Characterized recently as being near bankruptcy.

Lawyers for those hold- ng Treacher franchises believe the Chain is draining millions from Mrs. 'aid's. ACQUIRED IN November 1979 for kbout $5 million, the Treacher's sys- Sem was originally viewed as a logical ehicle for expanding Mrs. Paul's sales utside the supermarket freezer sec- ion. But almost immediately the mar- age soured over the contentious issue pf fish codfish, that Is.

For years the Treacher's outlets had AFFORDABLE CONVENTIONAL HOME MORTGAGES 80 LOAN OVER 80 WA 1514 The Payments Are Adjusted Every Year With a 7 Payment Cap 3 Points and Standard Closing Costs Interstate Mortgage Company 6 THE MALL DAYTON, OHIO 45402 513-223-4101 A a luxunous community of condominium -style homes dedicated to catering to the most discriminating lifestyle. The area only condominiums to feature private elevators in each home from $287,000 NmiIoH hstuMn NCR It MiMV CnuMrv CM an exclusive community ol five elegant homes clustered in a woods overlooking a running stream. from $257,000 MadRivcrRiiMlM AkaBcll Smith BW to Mni DrUjt TwnO Srwnto to Rriy Open Today From 1-5 p.m. For Your Inspection rovatcNhnwmis by appointment Sales bx HERITAGE Jack Fitzgerald 434-7600 in niai BUTLER'S 34th ANNUAL PRE-SEASON AIR CONDITIONING SALE SAVE 1)1 1 -id s- 1 1 I 1 J' We'll bare you beautifully. At4 savings! With sunripe swimwear that puts sizzle into your suntan.

Bold bikinis. Sea-sleek maillots. Lacy racers. Plus lots more. Detailed with attention-getting-extras.

Like pretty shirring, slimming stripes and peek-a-boo cutouts. In the smoothest nylonspandex, poly and other blends to curve everywhere you do. For juniors', misses', women. Sale prices effective through Wednesday, March 3rd. For a Imited time you can save $150 to $400 on a Carrier central air condctioriing system.

Savings depend on the size unit you need. CENTRAL AIR CONDITIONING SYSTEMS Check Carrier'! famous ine of "energy saving" air conftioners. Don't miss this special offer! 20 off all sunglasses. Brilliant savings on all our fashion sunglasses. A super assortment of summer-fun shapes and sizes.

For beach and everywhere 1 1 Cal the "Dependables today, 253-8871 We Install better we service better 120 Springfield St VISA' JCPenney Shop Dayton Mai, Satem MaB, Airway Center aixl Town Country Monday through Saturday 10:00 a.m. to 9:00 p.m. Sundays 12:30 p.m. to 5:30 p.m. HEATING AIR CONDITIONING.

Get access to Newspapers.com

  • The largest online newspaper archive
  • 300+ newspapers from the 1700's - 2000's
  • Millions of additional pages added every month

Publisher Extra® Newspapers

  • Exclusive licensed content from premium publishers like the Dayton Daily News
  • Archives through last month
  • Continually updated

About Dayton Daily News Archive

Pages Available:
3,089,212
Years Available:
1898-2024