Pam & Frank loss grows

Debt-ridden Pam & Frank International Holdings has plunged into the red, recording a net loss of $29.77 million for the six months to September 1996 from $18.38 million net profit previously.

The loss included a $2.55 million exceptional item for debt restructuring.

The directors again declared no interim dividend.

Turnover dropped 54 per cent to $266.02 million.

The company said a debt restructuring proposal would be finalised soon.

Sources said a Taiwanese investor would rescue Pam & Frank, plagued by more than $500 million in debts.