Burlington Files Ch.11 Bankruptcy

Greensboro, NC (USA)— Burlington Industries, Inc. has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. In round numbers, Burlington had a net loss of $91 million for its fiscal year 2001 ended September 29 on sales of $1.4 billion versus a $526 million loss a year earlier on sales of $1.6 billion. Pre-tax income of...