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Article: WPP apparel, fabrics units seen drawing $348.8M net cash. (West Point-Pepperell Inc., textile manufacturer)
- Article from:
- WWD
- Article date:
- June 7, 1990
- Author:
CopyrightCOPYRIGHT 1990 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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WPP APPAREL, FABRICS UNITS SEEN DRAWING $348.8M NET CASH
NEW YORK (FNS) - Still trapped in a cash squeeze, William F. Farley is projecting that net cash proceeds from the sale of the WestPoint Pepperell, Inc., apparel and industrial fabrics divisions will come to $348.8 million, according to a confidential prospectus prepared for a planned restructuring of debt of WestPoint Acquisition Corp.
The prospectus reveals management projections of WestPoint Pepperell's remaining operations in light of such divestitures by Dec. 31, 1991. For months, Farley has been trying sell these divisions. At one point, Farley, chairman of Farley, Inc., which, through WestPoint ...