NEWBERY <NBE> EXPECTS TO FILE FOR BANKRUPTCY
Newbery Corp said Fireman's Fund
Corp <FFC> and United Bank of Arizona are continuing to meet to
explore alternatives, but the company believes, that
irrespective of the outcome, it will be forced to file for
bankruptcy by the end of the week.
    On May four Newbery said it would receive supplemental
funding under a 30-day arrangement with Fireman's Fund and
United Bank that would allow it to continue to operate until a
decision was made on the company's request for long-term
financing.
    The company later announced that it would not be able to
make its July one interest payment on its 12 pct subordinated
convertible debentures.
 Reuter
