Aaron Feuerstein is making headlines again. The beloved entrepreneur who became famous in 1995 for keeping his workforce intact following a devastating mill fire took one step closer to righting his company, the Boston Globe reports. Malden Mills, which makes fleece, will emerge from Ch. 11 bankruptcy in 11 days. The catch--isn't there always one?--is that Feuerstein has to raise $92 million by then in order to ensure that he continues to control the company. The business suffered in particular when sales of Polartec fleece took a dive in recent years; new products geared toward the military have helped Malden Mills rebound.
Published on: Aug 15, 2003