GRAND UNION IS REVAMPING ITS STRUCTURE, CUTTING STAFF

WAYNE, N.J. -- Grand Union Co. here last week unveiled a corporate restructuring program that will reduce staff, streamline divisions and revamp merchandising units.The move came as the company reported "disappointing" sales results for the period ended March 29 and lower earnings before interest, taxes, depreciation and amortization; last-in, first-out provision; unusual items; and extraordinary

WAYNE, N.J. -- Grand Union Co. here last week unveiled a corporate restructuring program that will reduce staff, streamline divisions and revamp merchandising units.

The move came as the company reported "disappointing" sales results for the period ended March 29 and lower earnings before interest, taxes, depreciation and amortization; last-in, first-out provision; unusual items; and extraordinary gain. EBITDA fell by $19.2 million for the year and $9.1 million for the fourth quarter.

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