Troubled textile giant Guilford Mills Inc lost millions of dollars last month, according to its latest filing with bankruptcy chiefs and the Securities and Exchange Commission.

According to its June operating report, Guilford lost $5 million as it attempted to restructure and reorganise its massive debts as part of its plan to emerge from Chapter 11 by the end of September.

The North Carolina-based company filed for Chapter 11 in March with debts of $270m, but earlier this month it filed a reorganisation plan that will give senior lenders a 90 per cent stake and existing shareholders a 10 per cent stake.