GRAND UNION GETS LENDER REPRIEVE

WAYNE, N.J. -- Grand Union Co. here last week received a temporary reprieve from lenders that will enable the chain to move ahead with formulation of a debt restructuring plan.tores in six Northeastern states, has previously said that by Jan. 15 it intends to propose a restructuring plan, and the reprieve from lenders was a prerequisite. Gary D. Hirsch, chairman of Grand Union Holdings Corp., the

WAYNE, N.J. -- Grand Union Co. here last week received a temporary reprieve from lenders that will enable the chain to move ahead with formulation of a debt restructuring plan.

tores in six Northeastern states, has previously said that by Jan. 15 it intends to propose a restructuring plan, and the reprieve from lenders was a prerequisite. Gary D. Hirsch, chairman of Grand Union Holdings Corp., the chain's indirect parent company, said earlier this month that the restructuring became n

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