BGF to miss coupon

New York, Jan. 14 - BGF Industries, Inc. said it does not have sufficient available cash to make the coupon payment due Jan. 15 on its 10¼% series B senior subordinated notes maturing 2009.

The Greensboro, N.C. specialty fabrics company said it is working on alternatives that would allow it to make the payment within the 30-day grace period but said the outcome of its efforts cannot be guaranteed.

BGF also said it is still working with Realization Services Inc. as its financial adviser to explore strategic alternatives including but not limited to the capital restructuring of the company.

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