USA: Worldtex To Restructure Capitalisation
Worldtex, Inc announced that it had entered into a lock-up agreement with the members of an informal committee of noteholders holding nearly two-thirds of the company's 9-5/8 per cent Senior Notes regarding a restructuring of Worldtex's capitalization. The lock-up agreement contemplates a restructuring that will provide for a substantial reduction of Worldtex's debt through cancellation of all of its outstanding 9-5/8 per cent Senior Notes in exchange for equity securities of Worldtex. The agreement contemplates that trade creditors will be paid in full and in accordance with Worldtex's existing practices.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 16 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- Trump blows the case for Brexit out of the water
- US apparel retailers' November 2016 sales roundup
- Duty-free trade key to build Africa supply chains
- US Q3 in brief – Destination Maternity, Cherokee
- Esquel efficiency drive continues to boost brands
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- Myanmar garment industry "lacking labour rights"