IN BRIEF: DAN RIVER STILL IN BANKRUPTCY... ENESCO NAMES MANLEY CFO... KELLER EXITING FURNITURE BUSINESS.
HFN: The Weekly Newspaper for the Home Furnishing Network, January, 2005
DAN RIVER STILL IN BANKRUPTCY
A Georgia Bankruptcy Court notice said it will continue hearing the Dan River's plan to emerge from Chapter 11 and set Jan 18 as the date to confirm the textile mill's bankruptcy petition. The court was supposed to rule on Dan River's petition Jan. 4
The company filed in Georgia's northern district in March, citing the need to cut its $157 million debt load, which had a heavy 14 percent interest rate. According to court papers, the firm has lined up $135 million in new financing to pave the way for its emergence.
Of the $135 million, $110 million in revolving credit will come from Ableco Financing. A term loan of $25 million will come from a group investors. Court papers said Dan River is also in discussions to...
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