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Article: Greensboro, N.C.-Based Textile Firm to Sell Upholstery Fabric Business.
- Article from:
- High Point Enterprise
- Article date:
- May 31, 2002
CopyrightCOPYRIGHT 2002 High Point Enterprise. 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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Byline: Richard Craver
May 31--A change in the final purchaser of a fabrics division could mean fewer job cuts at Burlington Industries.
The Greensboro textile manufacturer announced Thursday it has received U.S. Bankruptcy Court approval to sell its residential upholstery fabric business to Tietex International Ltd. of Spartanburg, S.C. The transaction is expected to be completed by June 28.
The manufacturer said the sale is part of its final reorganization strategy around its Burlington House Division.
Burlington had announced April 11 it was selling the residential upholstery fabric business to Richloom Fabrics Group Inc. But Tietex ...