CALLING ALL BURLINGTON BIDS: Following a bankruptcy court ruling last week that caused Warren Buffett to drop his bid to acquire bankrupt Burlington Industries Inc., the Greensboro, N.C.-based textile company has started accepting new bids. Following a Wednesday hearing, the company said that its chief financial officer, Charles Peters, would serve as the primary contact person for all prospective bidders. Bids are due by May 28, according to court papers. Sources have speculated that Burlington, once the U.S.’s largest textile mill, is likely to be broken up as a result of the auction process.
This story first appeared in the March 7, 2003 issue of WWD. Subscribe Today.
OSCAR ON THE MARYMOUNT: Oscar de la Renta will receive the 2003 Designer of the Year Award on April 24 from Marymount University in suburban Washington, D.C. The award, given previously to Geoffrey Beene, Dana Buchman, Tommy Hilfiger, Carolina Herrera and the design team of Marc Badgley and James Mischka, coincides with the college’s annual fashion show. The award was established in 1990 to honor designers who have “achieved excellence in the field and [have] captured the imagination of both the fashion industry and the public.”
DELTA CLOSING YARN PLANT: Delta Woodside Industries said it plans to shutter its yarn-spinning plant in Maiden, N.C. The plant employs 112. The Greenville, S.C.-based mill said it would start buying yarn from independent suppliers, instead of making its own, in an effort to cut costs. In a statement, the company said it expects to take $400,000 to $500,000 in special charges as a result of the closure.