Business Notes BANKRUPTCY

The Seabrook, N.H., nuclear power plant took eleven years to build, cost $4.5 billion in excess of its original $1 billion price and has yet to churn out a single kilowatt. The plant has generated only trouble so far, which it produced in abundance last week. Public Service of New Hampshire, owner of the largest single stake in Seabrook, a 35.6% share, filed for Chapter 11 bankruptcy, becoming the first major investor-owned utility to do so since the Depression. Though Seabrook was ready to run by the fall of 1986, its start-up has been delayed by political and public opposition. The bankruptcy will shelter the utility from creditors while its management reorganizes the company and pursues its goal of getting Seabrook switched on.