USA: Judge Approves Sale Of Guilford Mills JV Stake
Troubled textile giant Guilford Mills' bid to sell its interest in a fabric-making joint venture for $2.1 million has been approved by a bankruptcy judge. The North Carolina-based company, which filed for bankruptcy protection earlier this year, wants to sell its 50 per cent stake in Delaware-based Unger Fabrik to its partners, Fabian Oberfeld and Richard Sneider. The company made finished garments in Mexico.
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