USA: Malden Mills Creditor Slams Recovery Plan
The largest creditor of Malden Mills Industries Inc has blasted the textile giant's reorganisation plan as unrealistic, a claim that could trigger months of legal arguments over the future of the fabric firm. Peter Stack, spokesman for creditor GE Capital Corp told The Boston Globe that Malden Mills' sales projections - driven by its Polartec fleece fabric - of $183 million in 2003 to $250m in 2012 were too optimistic.
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