Collins & Aikman Corp. reportedly intends to file a reorganization plan in U.S. Bankruptcy Court by Aug. 31 and emerge from Chapter 11 protection by compensating lenders with equity instead of cash. The company also is seeking permission from the court to defer interest payments totaling $7.2 million per month for September through December, so it can conserve cash to fund ongoing operations. C&A’s creditors must approve the restructuring plan. A U.S. District Court in Michigan ...
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