Glenoit reorganization plan cleared

Wilmington, DE — The U.S. Bankruptcy Court here has given its approval to a plan of reorganization for Glenoit Corp., paving the way for the company to emerge from Chapter 11.

Glenoit's lenders lined up to support the plan, with 90 percent of the company's unsecured creditors, representing 99.9 percent of the unsecured debt, green-lighting the deal.

Additionally, 93 percent of the bondholders, holding 99.9 percent of the bond debt, approved the plan of reorganization.

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.

Featured Video

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!