AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Pillowtex, creditors gird for showdown.
Byline: Greg Johnson
Creditors of Pillowtex Corp. will head to court Aug. 28 for a showdown with a group of liquidators.
The official committee of unsecured creditors is blasting a planned sale of the bankrupt Kannapolis, N.C., maker of home furnishings and fabrics to GGST LLC in a deal Pillowtex values at $88.1 million.
At a hearing Wednesday, Aug. 20, in U.S. Bankruptcy Court for the District of Delaware in Wilmington, GGST said it is offering $56 million in cash for Pillowtex. GGST added it's also assuming $17.7 million in equipment leases and would pay $14.4 million for some real estate.
But creditors said the transaction is worth only …
-
- Former Pillowtex owner puts up $6.4 million bid to buy Kannapolis, N.C., plant.
-
News wire article from: Knight Ridder/Tribune Business News
December 11, 2004
700+ words
-
- Noteholders drop lawsuit against bankrupt Pillowtex.
-
Newspaper article from: The Daily Deal
February 8, 2002
700+ words
-
- Owner of former Pillowtex plant in Kannapolis, N.C., talks of development, jobs.
-
News wire article from: Knight Ridder/Tribune Business News
December 22, 2004
700+ words
-
- Bank to pursue Pillowtex probe.
-
Newspaper article from: The Daily Deal
January 16, 2002
700+ words
-
- Pillowtex reorganization plan OK'd.
-
Newspaper article from: The Daily Deal
May 2, 2002
700+ words
