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Textile News

Crown Crafts Inc Extends Loans

ATLANTA, April 6 /PRNewswire/ -- Crown Crafts, Inc. (NYSE: CRW) hasexecuted definitive agreements with its lenders to amend the covenants andextend the expiration date of its loans from April 3, 2001, to June 30, 2001.The company and its lenders are working on a longer term restructuring whichis expected to be completed by June 30, 2001. Also, following the announcement that the NYSE will cease trading theCompany's stock effective April 10, the Company has arranged for WachoviaSecurities to make a market in the stock and will be applying for a Nasdaq OTClisting. Crown Crafts, Inc., headquartered in Atlanta, Georgia, designs,manufactures and markets home textile furnishings and accessories. TheCompany's two major product groups are bedroom products and infantandjuvenileproducts.SOURCE Crown Crafts, Inc.Copyright 2001 PR Newswire




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