We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Collins & Aikman Files Reorganization Plan

Law360 (August 31, 2006, 12:00 AM EDT) -- Auto parts supplier Collins & Aikman Corp. announced Wednesday that it filed a reorganization plan calling for its emergence from court protection as a stand-alone company.

Current stockholders would receive nothing under the current iteration of the plan, but banks that hold secured Collins & Aikman debt may obtain stock in the company once it has been reorganized.

"Through contributions from our creditors, customers and employees, we will improve our cost structure, strengthen our balance sheet and position C&A for long-term success," Chief Executive Officer Frank...
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.