USA: Guilford Mills Sells New York Plant
Troubled textile giant Guilford Mills Inc has announced it plans to sell its Twin Rivers factory in Schenectady, New York, to print fabric converter H Greenblatt and Co for an undisclosed sum. The announcement comes less than a week after the North Carolina-based company filed for Chapter 11 bankruptcy protection after agreeing a deal with its lenders to reduce its $270 million debt to $145m.
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