Ex-Director Raises Stake in Traditional Industries

William Walsh, a former director of Traditional Industries, raised his stake in the Agoura Hills company to 14% of its stock from 12%.

In a filing with the Securities and Exchange Commission, Walsh said he effectively increased his interest in Traditional by purchasing two convertible debentures for $285,048 on Dec. 22.

The debentures are corporate debt that can be converted into 49,474 shares of Traditional’s common stock, thus raising Walsh’s overall stake to 576,679 shares, the filing said.

Traditional, which has been suffering major losses recently, markets photographic supplies and services to consumers, who often purchase Traditional’s items with installment credit provided by the company.