Cleaning & Restoration Breaking News

Dixie extends Credit Agreement waiver

October 15, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
Firm extends its waiver of compliance until Nov. 30.

CHATTANOOGA, Tenn. --The Dixie Group, Inc. (NASDAQ/NM:DXYN) said its senior lenders have extended the waiver of compliance with certain financial covenants of the Company's senior credit agreement until Nov. 30.

The company said its discussions with its senior lenders were interrupted and delayed as a result of the tragedy on Sept.11, 2001.

'We continued to improve our balance sheet, streamline our cost structure and remain profitable in a slowing economy,' said Daniel K. Frierson, chairman and chief executive officer. 'Total sales in the third quarter 2001 will be down approximately 11 percent from a year ago; 8 percent in our carpet operations, due primarily to weaker demand in our markets. Sales to higher-end markets served by Masland and Fabrica continue to be the least affected by the economic downturn. Our focus remains on delivering value to our customers, simplifying operations, improving profitability and reducing debt."

The Dixie Group is scheduled to report results for the third quarter on Oct. 30.

The Dixie Group (www.thedixiegroup.com) is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie's Candlewick Yarns serves specialty carpet yarn customers.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.

Podcasts

While winter is considered the "slow season" for carpet cleaners, it can also be a season of great opportunity. In this episode of The Hitman Advertising Show, John Braun offers advice for keeping revenue consistent during the cold weather months so you're thriving - and not just surviving - the winter.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 Nov/Dec

The Nov/Dec ICS features content on how to get better meter readings, a roundtable on truckmount development, neighborhood marketing and more. Also included is the annual Buyer’s Guide and Directory.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view