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Thomaston Mills Files For Chapter 11 Protection

Thomaston Mills FilesFor Chapter 11 ProtectionThomaston Mills Inc., Thomaston, Ga., has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the Middle District of Georgia, Macon.Thomaston continues to seek a purchaser for all or part of its assets and will continue certain operations during the bankruptcy proceedings.The decision to file a Chapter 11 petition was an extremely difficult one, but we believe it is the only alternative that may provide the breathing space and relief necessary to find a purchaser for the company, or, if none can be found, an orderly wind-down of the companys operations, said A. William Ott, acting president and CEO.The company recently discontinued the spinning and weaving operations for its home furnishings lines, resulting in the shutdown of operations at its Peerless manufacturing facility in Thomaston. August 2001




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