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McCrory owes $65M to trade. (McCrory Corp. owes $65 million to clothing trade while reorganizing in Chapter 11) (Brief Article)
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Daily News Record
- Article date:
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March 6, 1992
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Copyright informationCOPYRIGHT 1992 Fairchild Publications, Inc. 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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NEW YORK (FNS)--McCrory Corp., which is reorganizing in Chapter 11, owes about $65 million to the trade, according to an attorney for the company.
The attorney, Brad Eric Scheler of Fried, Frank, Harris, Shriver & Jacobson, disclosed the estimated trade debt after a meeting held Thursday to organize an official unsecured creditors committee.
A 15-member committee appointed by assistant United States Trustee Arthur Gonzalez includes only one apparel company, Fruit of the Loom. The makeup of the creditor group illustrates the fact that McCrory has been operating a number of years without credit from apparel vendors.
In addition to ...
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