USA: Lawsuit Could Halt Guilford Mills Reorganisation
Guilford Mills' plan to reorganise and emerge from bankruptcy is being threatened by legal action brought about by the children of a former Guilford Mills president. At a hearing scheduled for today, the textile company could be forced to redraft its reorganisation plan. According to the Associated Press, a lawsuit filed by George Greenberg's three children in 2001 - before the company declared bankruptcy - contends they should receive a higher priority in the plan than shareholders.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- US Q4 in brief – Chico's FAS, TJX Companies
- VF Corp sees Q4 and FY earnings tumble
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- $136m funding for Made in NY garment-making hub
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar