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Article: Rocky Mount to sell its operating assets. (Rocky Mount Undergarment Company Inc.)
- Article from:
- WWD
- Article date:
- December 8, 1988
CopyrightCOPYRIGHT 1988 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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ROCKY MOUNT TO SELL ITS OPERATING ASSETS
ROCKY MOUNT, N.C. -- Rocky Mount Undergarment Co., Inc., announced it has signed a letter of intent with Ithaca Industries, Inc., to sell its operating assets for approximately $13,400,000.
The deal will include the assumption or payment of substantially all of the balance sheet liabilities of Rocky Mount, which were approximately $5,600,000 as of the balance sheet of Oct. 2. Final adjustments will be made at closing to reflect the Dec. 31 yearend figures.
Rocky Mount will retain the ownership of its real estate and is expected ...