By  on July 15, 2009

Round-the-clock talks between Kellwood Co. executives and bondholders took on extra urgency Tuesday as the company tried to avoid defaulting on $140 million in notes that mature at midnight tonight.

Sources familiar with the negotiations said St. Louis-based Kellwood was unlikely to make an immediate decision on what action to take in the event of a default, hoping to resolve an impasse with Deutsche Bank, its largest noteholder, and avert a bankruptcy filing.

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