Malden may use Ch. 11
By Furniture Today Staff -- Furniture Today, December 3, 2001
LAWRENCE, Mass. — Textile supplier Malden Mills said it is in the final stages of a financial reorganization that may require it to file for Chapter 11 bankruptcy protection.
Malden, the maker of Polartec, closed its upholstery division after a serious factory fire in 1995.
Aaron Feuerstein, president and chief executive officer, said the company is negotiating with a bank group to reorganize and restructure debt, and the lenders may want to do so under Chapter 11. Malden remains open and in business as usual, he said.
