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Home > News > Burlington Made to Order

August 13th, 2003

Burlington Made to Order

Abstract:
Ask Wilbur Ross why he recently agreed to pay $620 million for the bankrupt Burlington Industries and he is likely to tell the dirty necktie story. A few months ago Mr. Ross, a Burlington creditor long before he became a would-be buyer, visited the company's headquarters in Greensboro, N.C. There, he watched, wincing, as George W. Henderson III, Burlington's chief executive, spread out a necktie and dotted it with blobs of ketchup, mustard and red wine. "It was a pretty expensive Hermès tie," Mr. Ross recalled.

Source:
NYTimes

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