The sheriff’s sale of Vidalia Mills is on hold.
Stephen Strohschein, partner at Hinshaw & Culbertson LLP, the law firm working on the sale, told SJ Denim the sale has been postponed without a new date for the time being.
In an email, Strohschein said electrical issues at the Vidalia, La. facility have made it too difficult to take inventory. However, there is an effort to restore electricity. Once the lights come back on, he they will complete the inventory and reset the sale.
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More information is expected to become available in couple of weeks.
The Concordia Parish sheriff’s office announced in February that the property would go up for auction on April 9 following reports that the mill owes approximately $32.5 million to the Jefferson Financial Federal Credit Union and Greater Nevada Credit Union. In March, the sale was postponed to May 14.
The sale will include 81.87 acres of land which was purchased from the town in 2017 for $12 million, the 900,000-square foot former Fruit of the Loom distribution center that Vidalia Mills retrofitted for its manufacturing facility, and numerous pieces of equipment.
It will be sold as one lot—not piece by piece.
The future of the 40 American Draper X3 selvedge looms that were housed at the facility has caught the attention U.S. denim insiders. Executives of “Made in USA” denim brands have expressed interest in the looms, however their current ownership remains a point of contention.
