The largest creditor of Malden Mills Industries Inc has blasted the textile giant's reorganisation plan as unrealistic, a claim that could trigger months of legal arguments over the future of the fabric firm.

Peter Stack, spokesman for creditor GE Capital Corp told The Boston Globe that Malden Mills' sales projections - driven by its Polartec fleece fabric - of $183 million in 2003 to $250m in 2012 were too optimistic.

"We don't believe, with this level of disclosure, that the performance numbers in their plan are feasible," he said.

Malden Mills spokesman David Costello said he could not comment on claims the firm has reduced its sales forecasts but added: "We're confident that our creditors will come to understand the growth potential of the Polartec brand during our ongoing negotiations."

Massachusetts-based Malden filed its recovery plan in August in which it pledged to repay over time the $140 million owed to creditors. It employs 1,200 workers and its Polartec fabric is used in high-end sweaters and military uniforms.