Delta Woodside Industries Inc was notified by the New York Stock Exchange in August that it didn't comply with the $1 minimum bid requirement for continued listing.

In a press release, the apparel textile manufacturer said it is considering options to address the deficiency and expects to meet with NYSE officials this month to review them.

Delta Woodside also said it reached an agreement with GMAC Commerical Credit LLC to amend the $50 million revolving credit agreement for its Delta Mills unit.

The amendment substantially increases the permitted leverage ratio for the first, second and third fiscal quarters and slightly reduces the permitted leverage ratio in the fourth fiscal quarter and subsequent quarters that Delta Mills is required to maintain under the covenants in the agreement.

The amendment also extends the term of the credit agreement to March 31, 2004. In addition, it includes GMAC's consent to the sale of Delta Mills's Furman Plant announced on August 22, and allows Delta Mills to exclude from the calculation of leverage ratio the closing costs and run-out costs associated with the closing of its Furman Plant.
Headquartered in Greenville, South Carolina, Delta Woodside Industries employs about 1,900 associates in its six plants located in North and South Carolina.