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Article: WestPoint Stevens Receives Additional Time to Revise Business Plan With Extension of Exclusive Period to File a Plan of Reorganization.
- Article from:
- PR Newswire
- Article date:
- August 2, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association 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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WestPoint Stevens Inc. (BULLETIN BOARD: WSPT) ( http://www.westpointstevens.com/ ) announced that on July 30, the U.S. Bankruptcy Court extended the Company's exclusive right to file a plan of reorganization through October 1, 2004.
M.L. "Chip" Fontenot, President and CEO of WestPoint Stevens commented, "We are in the final stages of revising our Business Plan. While we are sensitive to the desire to exit bankruptcy as quickly as possible, it is more important to conclude this process with a sound strategic vision that will ensure WestPoint Stevens' long term competitive position in a rapidly changing global market."
Mr. Fontenot added, "WestPoint ...