Collins & Aikman Corporation president and chief executive officer Frank Macher has confirmed that the cockpit and interiors specialist is on track to emerge from bankruptcy as either a stand-alone entity or having been sold off in pieces.
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“The company has… begun the process of marketing portions or all of [its] assets to determine their market value for a potential sale, merger or equity infusion from investors,” C&A said in a statement.
“We are in the midst of developing a comprehensive business plan that includes detailed, three-year projections to determine our base value,” said Macher.
“From there, we will evaluate the benefits of structuring the company as a stand-alone entity or explore the possible sale or merger of our assets to a third party. Ultimately, we will choose the path that creates the most value for our stakeholders.”
C&A added it was still in the preliminary stages of developing a reorganisation plan.
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