Quaker Fabric Selling HQ
By Staff -- Home Textiles Today, 2/26/2007 12:00:00 AM
FALL RIVER, MASS. —
Woven upholstery and jacquard maker Quaker Fabric will sell its corporate headquarters building here to Rosewood Management Associates for $4.7 million. Administrative and other staff will continue to occupy half of the 245,000-square-foot site.
"Consolidating our operations and selling off excess real estate is an integral part of the broader restructuring plan," said Larry Liebenow, president and ceo. "The purchase and sale agreement we signed calls for this deal to close on March 15, and the net proceeds from this sale will be used to reduce our senior debt."
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