Vestron Defaults on Loan: Vestron Inc., a...
Vestron Defaults on Loan: Vestron Inc., a producer and distribution of motion pictures, video and television entertainment, said it had failed to make payment on a $25-million note owed to Wells Fargo Bank. In San Francisco, a spokeswoman for Wells Fargo said the bank had sent a notice of default to Vestron because the company had not met the July 3 maturity date on the note. Vestron said it was “actively negotiating†with other financial institutions to come up with funds to satisfy its obligations and working capital requirements.
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