USA: Polymer Group Files For Chapter 11
The world's third largest producer of nonwovens, Polymer Group Inc, has filed for Chapter 11 bankruptcy in a bit to slash debt and improve its competitive position. The South Carolina-based company, which makes nonwoven fabrics for items including facemasks and surgical gowns, also revealed it had received up to $125 million in debtor-in-possession financing that would be used to fund ongoing operations.
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