Kellstrom misses convertibles coupon

New York, Dec. 17 - Kellstrom Industries, Inc. said it did not make the Dec. 15 interest payment on its 5½% convertible subordinated notes due June 15, 2003.

The Miramar, Fla. company added that its senior lenders are continuing to fund its operations on an interim basis and said it is working on more permanent financing arrangements.

Without permanent financing, Kellstrom said it would be forced to "adopt an alternative strategy" which could include restructuring debt, seeking additional capital, selling assets or filing for bankruptcy.

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