DAN RIVER CONFIDENT OF LIFE AFTER CHAPTER 11.(Dan River Inc. is expected to emerge from bankruptcy protection)

HFN: The Weekly Newspaper for the Home Furnishing Network, January, 2005 by Leizens, Leticia

Byline: Leticia Leizens

NEW YORK-Dan River is expected to emerge from its Chapter 11 history on or around Feb. 10 with bondholders as it major owners, its debt reduced to one- third of their previous debt, down to $90 million and with the financial backing of an affiliate of Cerberus Capital Management, which has committed to the bulk of the $140 million exit financing.

Judge Homer Drake Jr. of the U.S. Bankruptcy Court for the Northern District of Georgia confirmed Dan River's reorganization plan, which had been approved by the majority of its creditors on Jan. 18, but lawyers said time is needed to close the exit financing deals.

"During the bankruptcy proceedings, we have restructured the company both organizationally and financially to...