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Article: NEWS BRIEFS: GROUP SEEKS PILLOWTEX ASSET BUYERS...TYSON WALLOPS HOME RETAILERS...AMERICAN FURNITURE WAREHOUSE GROWS.
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- August 11, 2003
CopyrightCOPYRIGHT 2003 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GROUP SEEKS PILLOWTEX ASSET BUYERS
A joint venture of Gibbs International, SB Capital Group, Gordon Bros. Retail Partners LLP and Tiger Capital Group said it has begun seeking parties interested in buying particular assets of bankrupt Pillowtex Corp.
The liquidator group said this is in line with the definitive agreement with Pillowtex, which allows it to purchase some assets and sell them. The agreement, however, needs to be approved by the U.S. Bankruptcy Court, which has asked Pillowtex to come up with bidding procedures and allow other parties to bid for its assets.
The court will hear objections to Pillowtex's proposed bidding procedures ...