SMART & FINAL IN DEFAULT ON PAYING LOAN; GETS WAIVER

VERNON, Calif. -- Smart & Final here is in technical default on a loan payment to its majority shareholder. However, the company said last week the creditor is waiving the default in anticipation that several strategic moves will invigorate the bottom line.The company also said it is suspending dividends on its common stock indefinitely, opting instead to "re-invest" that portion of its future income.While

VERNON, Calif. -- Smart & Final here is in technical default on a loan payment to its majority shareholder. However, the company said last week the creditor is waiving the default in anticipation that several strategic moves will invigorate the bottom line.

The company also said it is suspending dividends on its common stock indefinitely, opting instead to "re-invest" that portion of its future income.

While sales increased for the fourth quarter and the fiscal year and sa

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