Debt-ridden textile giant Burlington Industries has been handed four month extension to its deadline for filing a reorganisation plan as it looks to emerge from Chapter 11 bankruptcy protection.

The North Carolina-based now has until the end of Janaury next year to file a plan as it looks to streamline its business through the sale of units and axing of more than 4,000 jobs.

Burlington filed for Chapter 11 last November with liabilities of $1.1 billion citing cheap imports and high street spending slowdown for its woes.