CLARIFICATION

Arthur Levine, chairman of the Sassco Fashions division of The Leslie Fay Cos., said he will be part of the firm’s management if it is spun off to creditors. He also denied that a deal for him to buy the unit outright was dead, even though a source close to the situation said Levine’s plan to purchase the division had fallen through. A headline on a story about the situation on page 20, March 5, was misleading because it indicated that Levine would not be part of the spinoff.

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