Fleece Giants Assure Future
The manufacturers of Polartec fleece have secured $20 million funding to keep churning out the warm and fluffy stuff
Posted: 10 December 2001
by Jon
Just a quicky to let you know that the future of Polartec fleece
seems secure with the news that manufacturer Malden Mills has
finalised a $20 million deal with its lenders to fund its operations
during its Chapter 11 'reorganization'.
The re-vamping of the company has its roots in the December 1995
fire which destroyed its Mill in New England. The costs of building a
new mill and paying its workforce during the process, put the
company's finances under enormous pressure with the result that the
company had to file for court protection from creditors while it
re-scheduled its debts.
Polartec is the best known fleece brand on the market. It's most
recent innovations are the Thermal Pro fabrics which offer reduced
bulk and weight and the heated jacket technology being used by The
North Face.
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