Interco Files Plan to Reorganize

Nearly a year to the day after filing for Chapter 11 bankruptcy protection, footwear and furniture maker Interco Inc. said Friday that it filed a reorganization plan in U.S. Bankruptcy Court.

The company, known for the Florsheim and Converse shoe brands and Lane and Broyhill furniture, will give its creditors cash, new debt securities and new common stock under the plan.

If approved by the court, the plan would allow the company to emerge from bankruptcy under the new capital structure.