P’tex get relief on deb covenants

Kannapolis, NC — Pillowtex lenders have cut the company some slack by waiving debt covenants tied to the company's performance.

Lenders have waived interest coverage and leveraged ration requirements for the fiscal fourth quarter ending Dec. 28. Debt covenants had similarly been waived for the third quarter because of the difficult retail environment. Other covenants have been extended through the close of the first quarter of 2003.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!