USA: Mediator Appointed For Fruit Of The Loom
James White, a professor at the University of Michigan law school, has been appointed as a mediator in the furore over US giant, Fruit of the Loom.
An unsecured creditors' committee has won the right to call for an independent examiner and to stop the firm's reorganisation plan proceedings.
It is fighting the existence of $1.2 billion in obligations to pre-petition lenders.
Chicago-based Fruit of the Loom and 28 affiliates filed for bankruptcy protection at the end of December 1999.
Meanwhile, employees working at two Fruits of the Loom factories in Ireland fear their jobs could be on the line.
Companies: Fruit of the Loom
Up to 28,000 Fruit of the Loom shareholders are in for a windfall after a federal judge approved two class-action settlements against the company....
Clothing manufacturer Fruit of the Loom said it will stop all operations at its Irish production plant in Buncrana in Co Donegal on 26 May, The Irish Times reported....
Apparel maker Fruit of the Loom is to close down its Irish operations a year earlier than planned....
Union Underwear Inc is setting up a new distribution centre in Berkeley County, South Carolina, which will initially create up to 200 jobs....
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