Target seeks P'tex chargebacks

Felgner, Brent
October 2003
Home Textiles Today;10/27/2003, Vol. 25 Issue 9, p2
Trade Publication
Target Corp. and two of the principal businesses of Pillowtex, have filed court papers seeking $2.5 million in chargebacks against the defunct mill, days before the liquidation of Pillowtex in October 2003. The court papers, filed with the U.S. Bankruptcy Court for the District of Delaware, is seeking precautionary relief to offset and recoup the charges against the remaining accounts payable by Target to Pillowtex. All of Pillowtex's assets were auctioned off to GGST LLC, a liquidation consortium, for $128 million in early October 2003. While Target Stores is expecting chargebacks totaling $260,082, Marshall Field's chargeback is for $593,400 and $1,594,274 for Mervyn's Department Stores.


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