NEW YORK — After a little more than two years operating under court protection, Galey & Lord Inc. has emerged from bankruptcy and named a new board.

The Greensboro, N.C.-based firm said in a statement it completed Chapter 11 proceedings on Friday. John Heldrich, former president and chief executive of its Swift Denim operation, has taken on the top executive post at G&L. He succeeded Arthur C. Wiener, who stepped down.

Several familiar apparel industry figures are on the new company’s board. Among them are John Kourakos, most recently president of Warnaco Sportswear Group; Lawrence F. Himes, president and ceo of Duro Textiles, and Richard Redden, formerly chief operating officer of Lee Jeans and Forstmann Industries. The other directors are Blon Dean Brown, managing director of Hampshire Advisory Partners; Charles W. McQueary, chairman and managing partner of Corinthian Health Services, and Michael Rich, portfolio manager at Highland Capital Management.

The company said it has secured $70 million in exit financing from GE Capital Corp. The maker has about 3,300 employees.

To access this article, click here to subscribe or to log in.

load comments
blog comments powered by Disqus