USA: Malden Mills Could Exit Bankruptcy In July
The plan, which has to be approved by a judge and then voted on by the parties, gives company president Aaron Feuerstein a three-year exclusive option to buy back a controlling share of the 1,400-employee company.
The company is thought to be keen to execute the option by 31 July, the deadline it has to reclaim a controlling interest for $92 million. After 31 July the cost increases.
''Today's filing is a significant milestone in our history,'' Feuerstein said in a statement. ''I am very proud of all of our employees, who have dedicated themselves toward pulling the company through this challenging time.''
Companies: Polartec LLC
Performance fabric maker Malden Mills Industries Inc has won a $15m order to supply Polartec garments to the US Military....
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