Home    Resource Store    Past Issues    Buyers' Guide    Career Center    Subscriptions    Advertising    E-Newsletter    Contact

http://ahweb.adsale.com.hk/t.aspx?unt=2354-STX15_TextileWorld
http://www.spgprints.com
http://www.textileworld.com/partners/Shaffer_and_Max-Dyeing_and_Finishing_Plant_2014
http://www.textileservicesonline.com
http://www.thiestextilmaschinen.com
http://www.expoproduccion.mx/Content/Exhibitors/24/
http://ahweb.adsale.com.hk/t.aspx?unt=2396-ZhejiangTex14_TextileWorld
http://www.textileworld.com/Textile_World_Innovation_Forum_2014/
July/August 2014 July/August 2014

View Issue  |

Subscribe Now  |

Events

AATCC Color Management Workshop
08/26/2014 - 08/27/2014

Intertextile Shanghai Home Textiles - Autumn Edition
08/27/2014 - 08/29/2014

SPINEXPO™ Shanghai
09/02/2014 - 09/04/2014

- more events -

- submit your event -

Printer Friendly
Full Site
Textile News

Guilford Reorganization Plan Receives Final Approval

Guilford ReorganizationPlan Receives Final ApprovalFollowing a vote of acceptance by its creditors and stockholders, Greensboro, N.C.-based Guilford Mills Inc. has received final approval from the U.S. Bankruptcy Court for its reorganization plan. After nearly two years of restructuring and six months of financial reorganization, we have Guilford positioned exactly where weve wanted all along, said John A. Emrich, president and CEO.Guilford prenegotiated several aspects of the plan with its creditors prior to filing for bankruptcy protection last March. Under the plan, the company will pay all suppliers in full. Senior lenders will own 90 percent of the company, leaving the remaining 10-percent ownership to existing shareholders. Senior debt will be reduced to $145 million from $270 million owed prior to its bankruptcy filing.Over the past year, Guilford has been selling off certain assets related to apparel and home fashions in order to focus on producing fabrics for automotive, technical textile and select apparel markets. October 2002




Advertisement

http://www.staubli.us