Pillowtex plan includes unloading massive debt

Hogsett, Don
January 2002
Home Textiles Today;01/7/2002, Vol. 23 Issue 18, p1
Trade Publication
Reports on textiles manufacturer Pillowtex's preparation to emerge from Chapter 11 bankruptcy protection. Elimination of an amount of debt; Filing of a plan of reorganization with the United States Bankruptcy Court in Delaware; Company's cancellation of all of its outstanding stock; Re-issuance of shares of new stock in a reorganized Pillowtex; How banks and other creditors would become new co-owners of the company.


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