Privately-held DuraFiber Technologies Operations and 11 affiliated debtors filed for chapter 7 protection with the U.S. Bankruptcy Court for the District of Delaware, BankruptcyData.com reported today. The company, which supplies industrial textile products, is represented by Domenic E. Pacitti of Klehr Harrison Harvey Branzburg. In July 2017, DuraFiber announced that it was preparing its production facilities in Salisbury, N.C., Shelby, N.C. and Winnsboro, S.C. to be idled if a buyer was not identified by September 11, 2017. A corporate release notes that these actions were taken following “a series of initiatives to lower production costs in response to increased competition in the textile industry, as well as a thorough review of strategic alternatives, including potential asset sales.” DuraFiber’s chapter 7 petition indicates assets greater than $100 million.
