Dan River lessens impact of Kmart filing
January 24, 2002-- Home Textiles Today,
Danville, VA — Dan River announced that earlier this month the company entered into an agreement with a third party in an effort to significantly mitigate the impact of this week's Kmart bankruptcy filing on Dan River's result of operations and financial condition.
The company does not expect the Kmart filing to have a material adverse effect on its ability to successfully implement its current business plan, but it does plan to increase its bad debt reserve for its fourth fiscal quarter of 2001.
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