Glenoit reorganization plan cleared
September 27, 2002,
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.
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