Retail News: Pillowtex bankruptcy plan approved by court

May 02, 2002 12:49 PM ET

KANNAPOLIS, N.C., May 2 (Reuters) - Pillowtex Corp. on Thursday said a judge approved its reorganization plan, clearing the way for the maker of Cannon and Fieldcrest towels to emerge from bankruptcy by June 30, a rare bright spot in the depressed U.S. textile industry.
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