MORE TIME FOR BURLINGTON: Bankrupt Burlington Industries Inc. has a bit more time to get its financial affairs in order. The Greensboro, N.C.-based company said Monday that the Wilmington, Del., bankruptcy court extended its exclusivity period...
MORE TIME FOR BURLINGTON: Bankrupt Burlington Industries Inc. has a bit more time to get its financial affairs in order. The Greensboro, N.C.-based company said Monday that the Wilmington, Del., bankruptcy court extended its exclusivity period and the date by which bids for the company are due. The bidding period has been extended to July 10 from May 28 and the company’s exclusive right to file its reorganization plan has been extended two months to July 31. Burlington said it has hired Miller Buckfire Lewis & Co., an investment banking company, to oversee the bidding process. The auction for the company, which filed for Chapter 11 protection in November 2001, is scheduled for July 21. In a statement, Burlington chairman and chief executive officer George Henderson said, "The modified bidding procedures established today strengthen our solicitation process and provide further assurance that the resulting outcome will be the best for the company and our creditors."
SPORTY BRIEFS: STS Market Research has teamed up with fashion consultant Markethink to offer Sportswear Intelligence Briefings, a series of reports on categories including sportswear, jeans, pants and tops. Those studies, available now, will be followed in June by reports on teens, Hispanic consumers, private labels and women’s plus sizes. A third round of research will be published in September. The briefings feature data on consumer shopping behavior and demographics; retail sales; distribution by channel, merchant and brand; pricing; sourcing, and seasonal considerations. In addition, advice is offered to help businesses capitalize on these trends. "Markethink’s industry expertise complements STS’ consumer apparel research," said STS senior vice president Susan Merrill. The venture also enables STS to leverage the mailing list of Markethink’s Apparel Strategist.
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