Going through hard times:
US textile mills are worried about their future after another major company, Burlington Industries, went bankrupt.
Egytex News Desk
Egytex
US textiles have become increasingly nervous after Burlington Industries and Malden Mills went bankrupt recently. Indeed, senor executives at a number of textile mills expressed fears that bankruptcies will continue to occur in 2002.
Many experts clarify that there are common problems facing US textile mills include a decline in demand for US manufactured products, declining profits, crushing debt burdens and, as one analyst puts it, "dog-eat-dog" competition.
(Source: A.T.A Journal: Journal for Asia on Textile and Apparel, Vol. 13, No1, ISSN 1015-8138, Feb/March 2002)
From the Egytex news archive, first published on 28 May 2002. Figures and names are as reported at the time.
