Also. . .

* American Pad & Paper Co., inventor of the legal pad and a leading maker of office paper products, said it was forced into Bankruptcy Court by creditors. Dallas-based American Pad, which laid off 7% of its 4,000-employee work force last year, was named in a Chapter 11 petition filed against it in U.S. Bankruptcy Court in Wilmington, Del. The company was acquired by Mead Corp. in 1986 and then sold to management in 1992. It hasn’t made a profit since 1994.

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* Fruit of the Loom Ltd. named turnaround specialist Brian Wolfson as chairman as it attempts to emerge from Chapter 11 bankruptcy brought on by mounting losses. Wolfson, formerly chairman of the board’s executive committee, replaces William Farley as chairman of the world’s largest maker of T-shirts and underwear.

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