News emerged late Friday that some 40 people at the American Fibers & Yarns plant in Afton will be facing lay-offs October 17 following the company’s move to file for Chapter 11 bankruptcy. From the company’s web site:
On September 23, 2008, AFY Holding Company, a Delaware corporation and its wholly owned subsidiary, American Fibers and Yarns Company, (the “Debtors”), filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under chapter 11 of the United States Bankruptcy Code. The Debtors’ cases have been assigned to Judge Peter J. Walsh.
View case docket information here. (Select AFY Holding Company in Debtor drop-down menu).