USA: Troubled Frisby Tech Axes President, COO
Troubled Frisby Technologies Inc, the developer of Comfortemp climate control materials operating under bankruptcy protection, on Friday said it has axed its president and chief operating officer, Duncan Russell.
The North Carolina-based firm said in a short statement it has no plans to fill the position which Russell had occupied since June 2000.
Chief restructuring officer, Mark Gillis, commented: "The company is taking steps to reduce its expenses and overhead as we develop our reorganisation plan.
"I am confident that the current management team and staff provide the appropriate resources to execute our business plan during the company's transition to a re-defined business model."
Frisby filed for Chapter 11 in mid-January and said it had reached agreement with its secured creditor group to provide debtor-in-possession financing but gave no details as to the scale of its financial woes.
Companies: Russell Corporation
Help test our new apparel sourcing tool.
Russell Corporation has said it is "disappointed" with its 2005 results, despite reporting a rise in sales and earnings in its fourth quarter....
Athletic and sporting goods company Russell is to axe about 2,300 jobs and stop retirement benefits as part of a large-scale restructuring....
Athletic and sporting goods company Russell has lowered its full-year profit and sales predictions and said it will take aggressive action in early 2006 to boost its earnings....
Scottish kilt maker Hector Russell has been acquired by larger competitor Edinburgh Woollen Mill Group, which plans to expand the business....
Russell Corporation today blamed delays in the full implementation of CAFTA and the effects of Hurricane Katrina for lower third quarter forecasts....
Athletic and sports goods company Russell Corporation says it is axing the position of president and chief operating officer as part of efforts to flatten its organisational structure....
ASAP Show, a wholly owned subsidiary of Cyber Merchants Exchange, has organised various seminars featuring top apparel executives from US fashion, sourcing and financial fields during its August 28-31...
Athletic and sporting goods company Russell Corporation has named Victoria Beck as a vice president of the company, effective as of 1 September....
- 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
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Kohl's, L Brands
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- VF Corp sees Q4 and FY earnings tumble
- Macy's will "do the right thing", says Lundgren
- 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
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022