Cone Plan in Effect
The second amended Chapter 11 plan of liquidation for the Cone Mills Corp. went into effect on May 3, according to Michael R. D’Appolonia, chief restructuring officer for the Greensboro, N.C.–based denim giant. The plan approves the sale of Cone’s assets to WLR Recovery Fund LP and WLR Cone Mills Acquisition LLC, which merged the Cone assets with assets acquired from Burlington Industries, forming the International Textile Group Inc.
