Diorio Law

Winston-Salem Journal: Bankruptcy judge approves sale of Microfibres assets to Turkish company

A U.S. Bankruptcy Court judge has approved a Turkish textile company buying the assets of defunct Microfibres Inc., including its plants in Winston-Salem.

Trustee Joseph DiOrio had valued the Microfibres assets at $7.46 million, of which $3.78 million is inventory, some of which could be sold in separate transactions. Also sold were 300,000 square feet of space on 10.2 acres in Pawtucket and a 31,000-square-foot warehouse in Lee County, Miss.

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