Textile producer Galey & Lord Inc is expected to emerge from Chapter 11 bankruptcy protection within the next 10 days following confirmation of its reorganisation plan by the US Bankruptcy Court.

As part of the reorganisation, CEO Arthur Wiener will retire upon the North Carolina-based company's emergence and will be replaced by executive vice-president John Heldrich.

In addition, Heldrich will assume the position of company president and will serve on the board of directors.

"This has been a long and arduous process, but the new Galey & Lord will emerge with a strong balance sheet that will enable it to execute both its long-term and short-term strategies," Wiener said.

"I have all the faith in the world that John will lead the company forward in this very competitive environment.