USA: Worldtex Emerges From Reorganisation
Elastic yarn and narrow elastic fabric manufacturer Worldtex, Inc announced today its Chapter 11 Plan of Reorganisation has become effective and it has successfully emerged from reorganisation proceedings. As a result of the restructuring, which was funded by a $38 million senior secured credit facility led by AmSouth Capital Corp, private equity firm GSC Partners will hold a controlling interest in Worldtex's equity.