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Heileman's cash woes could lead to sale

Published on .

G. Heileman Brewing Co. is publicly acknowledging 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 Security & 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, which is owned by a group of investors headed by Hicks Muse & Co., said advertising is continuing despite the cash crunch, though the brewer acknowledged spending is down substantially.

Copyright August 1995, Crain Communications Inc.

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