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Heileman acknowledges cash crunch

Published on .

G. Heileman Brewing Co., Rosemont, Ill., is publicly acknowledging the possibility that it might sell assets or combine with a competitor because of cash problems. The brewer of Colt 45, Henry Weinhard's and Old Style said in a Securities & Exchange Commission filing that it is short of cash and may be in violation of some lending agreements on Sept. 30, unless new waivers can be obtained. Heileman, owned by a group of investors headed by Hicks Muse & Co., said advertising would continue despite the cash crunch, though the brewer acknowledged in second-quarter filings that spending is down substantially.

Copyright August 1995, Crain Communications Inc.

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