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Article: Ash exits Chapter 11. (Ash Handkerchief Corp. emerges from bankruptcy)(Brief Article)
- Article from:
- WWD
- Article date:
- May 12, 1997
CopyrightCOPYRIGHT 1997 Conde Nast 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 -- Ash Handkerchief Corp., which does business as American Sock & Hosiery, has emerged from Chapter 11 proceedings.
Under the reorganization plan approved by Manhattan Bankruptcy Judge Stuart M. Bernstein on April 9, unsecured creditors will receive 45 percent of their claims over eight years, with 5 percent paid upon confirmation.
Ash, which filed a Chapter 11 petition in August 1995, makes socks and ...