GRAND UNION HIRES ADVISER, MULLS CAPITAL RESTRUCTURING

WAYNE, N.J. -- Grand Union Co. here said last week it has retained financial adviser Salomon Smith Barney, New York, to evaluate financial alternatives that might include a capital restructuring.J. Wayne Harris, Grand Union chairman and chief executive officer, said last week that despite improved operating performance, "the company's highly leveraged debt position continues to constrain our future

WAYNE, N.J. -- Grand Union Co. here said last week it has retained financial adviser Salomon Smith Barney, New York, to evaluate financial alternatives that might include a capital restructuring.

J. Wayne Harris, Grand Union chairman and chief executive officer, said last week that despite improved operating performance, "the company's highly leveraged debt position continues to constrain our future growth. We believe it is essential that we address the capital structure issue.

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