OTHER NEWS - July 25, 1991
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From Times Staff and Wire Reports
Farley Seeks Bankruptcy Shield: Shortly after creditors moved to liquidate Farley Inc., the Chicago company said it will seek Chapter 11 bankruptcy protection. Creditors, reporting little progress in negotiations over $172 million in defaulted notes, filed the liquidation petition in U.S. Bankruptcy Court in Chicago. The request applies only to the holding company Farley Inc., not its subsidiaries, underwear maker Fruit of the Loom or textile maker West Point-Pepperell Inc., Farley said.
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