Foss Mfg. files Ch. 11
Susan M. Andrews -- Furniture Today, October 10, 2005
Manchester, N.H. — Fiber source Foss Mfg. Co. has filed for Chapter 11 bankruptcy protection here after its senior lender, Capital Source Finance, refused to continue funding Foss's day-to-day operations.
Foss asked the bankruptcy court to approve the use of cash collateral to provide working capital for operations. The company said its factory would remain open during the Chapter 11 proceedings, and it anticipates no employee layoffs or customer disruptions as a result of the filing.
Meanwhile, Foss also has opened an office in Charlotte, N.C., to serve upholstery, furniture and specialty fabric customers. Jeff Dellinger, managing director of Foss's Performance Fibers business unit, heads the new office.
The company develops fibers that provide antimicrobial protection, high ultraviolet stability, colorfastness, wearability and flame resistance.
"Our philosophy is to work individually with customers to develop, design and produce specialized fibers and custom products for a specific end use," Dellinger said. "Our new office puts our fibers sales team in the epicenter of the textile and furniture market in the United States, and in a better position to serve our clients in a personalized way."
