USA: JPS Apparel Fabrics Files For Bankruptcy
JPS Apparel Fabrics Corp, the largest rayon and Tencel weaver in the US, filed for bankruptcy last Friday. The company is restructuring in an effort to reduce costs in the face of a slowing economy and the general malaise facing the US's apparel and textile sectors. JPS said it intends to continue to provide service to all of its customers. JPS said it would cease spinning operations at its Watts plant in Laurens, S.C., by August 20, affecting 233 employees.
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