Troubled textile giant Burlington Industries Inc on Monday reported a narrower first quarter net loss of $15.6 million and said it may file a bankruptcy reorganisation plan before the end of this month.

The North Carolina-based company said net sales for the quarter plunged 22.9 per cent to $189.7m from the year-ago period when it recorded a net loss of $75.2m on a $59.2m charge for restructuring, asset write-downs and other impairments.

Burlington filed for Chapter 11 in November 2001 amid a flood of cheap foreign textile imports and has since consolidated some operations, exited some segments, shut some facilities and axed about 6,000 jobs.

In a recent corporate filing, the firm said it may be able to file its reorganisation plan by February 27 and asked a bankruptcy court to block creditors from filing competing plans for another four months.