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Non-Tech : FTL- Fruit of the Loom
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To: Clement who wrote (103)3/8/2001 11:12:11 AM
From: Arthur Tang  Read Replies (1) of 161
 
News from SaraLee had FTLAQ to file a chapter 11 reorganization plan by March 14.

While they posted losses last quarter, recently by aggressive pricing had picked up some market share, 45% vs. 43.5%. While cost cutting is passed on to customers, making a lot of money to get out of chapter 11 with stockholders intact is not likely.

The best plan for chapter 11 is still to delay filing until old debts can be paid off. Otherwise they have to wipe out the stockholders; which action explain the recent price move to 44 cents. A blowoff is perhaps in the making.
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