NEW YORK — John J. Pomerantz, chairman and chief executive officer of The Leslie Fay Cos., is expected to receive bankruptcy court approval next week for a new contract, which includes incentives if the company succeeds in selling its dress and sportswear divisions.
A court hearing on the matter, which had been scheduled for Tuesday, has been postponed until sometime next week. Bankruptcy Judge Tina L. Brozman is also expected to approve the retention of Jay Alix and Associates, management consultant, working with Leslie Fay since January.
The two-part motion has the support of major creditor groups and Brozman is expected to sign an order when she returns from vacation next week. — Fairchild News Service