TITLE

Pillowtex Prepares for Next Phase

AUTHOR(S)
Felgner, Brent
PUB. DATE
December 2005
SOURCE
Home Textiles Today;12/12/2005, Vol. 27 Issue 13, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of Pillowtex Corp. to reorganize, pay off its accounts and settle its key litigation including its chargeback cases, after bankruptcy in the U.S. The plan proposes to pay priority tax, administrative and first-and second-tier secured lenders up to 100 percent. Court documents indicate the company made significant inroads in its efforts to recover more than 6.6 million dollar in chargeback and unpaid invoices from several retail customers. The cases involved Target, Mervyn's and Marshall Field's, which were originally under the Target Corp. umbrella. A separate case involving Kohl's Department Stores Inc. is set for mediation.
ACCESSION #
19134011

 

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