Galey & Lord case converted to Chapter 7 liquidation

By Jeff Pines

Washington, Nov. 29 - Galey & Lord Inc.'s Chapter 11 case has been converted to a Chapter 7 liquidation, according to an order filed Monday with the U.S. Bankruptcy Court for the Northern District of Georgia.

Patriarch Partners closed the acquisition of the Atlanta-based textile firm's assets on Nov. 9. The company no longer has any employees.

Galey & Lord and Patriarch Partners agreed to an out-of-court acquisition deal in July, but not all of the company's term lenders would give their approval, which was needed to go forward so Galey & Lord filed for Chapter 11.

The company filed for bankruptcy on Aug. 19, 2004. Its Chapter 11 case number is 04-43098.

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