USA: Guilford Mills Pursues Bankruptcy Protection
Textile maker Guilford Mills Inc expects to file a prepackaged bankruptcy plan if it can make a deal with lender banks that reduces a twice-rescheduled $275 million debt payment in return for a piece of the company. In a report filed Tuesday with the Securities and Exchange Commission the company said it was hopeful that a “restructuring can be reached in which the company's outstanding debt would be reduced to an acceptable level.
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