Kellwood May Head For Ch. 11: Report

Law360, New York (July 10, 2009, 12:00 AM EDT) -- Battered by the credit crunch and a slump in sales, apparel manufacturer Kellwood Co. is reportedly on the brink of bankruptcy after bondholders failed to agree on an exchange offer.

Citing unnamed sources familiar with the discussions, the Wall Street Journal reported Friday that Kellwood has a $140 million bond issue maturing Wednesday, and has been unable to refinance the bonds in the current debt market.

The firm tried to push back the impending bond payment through an offer to swap the bonds for ones maturing...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.