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Work Wear files Chapter 11.

Work Wear Files Chapter 11

Work Wear Corp., Greensboro, NC, announced last month that it has filed a voluntary petition under Chapter 11 in the Southern District of New York. In making the announcement, however, the company said its strong cash position will permit it to operate in an uninterrupted "business as usual" manner.

Work Wear said it will seek court approval of the recently announced proposed sales of its Apparel and Health Care Divs. The company also said it has entered into an agreement with a majority of holders of its $100 million principal amount to reorganize substantially all of the outstanding obligations of Work Wear and certain of its subsidiaries.
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Publication:Nonwovens Industry
Article Type:Brief Article
Date:Nov 1, 1991
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