C&A Exit Strategy Could Include Asset Sales

DEARBORN, MI – Collins & Aikman Corp. President and CEO Frank Macher says production cuts by its biggest customer, Chrysler Group, “put a crimp in our plan of reorganization” en route to exiting Chapter 11 bankruptcy protection.

“Chrysler came as quite a surprise to us because we had not planned to see such dramatic volume reductions in the fourth quarter,” Macher tells journalists recently.

As a result, Collins & Aikman management is “at the drawing board again” ...