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11-07-2016 08:36 PM
If I remember correctly, Berkshire acquired Malden Mills a couple of years ago. I do know that the Malden Mills factory in Massachuetts suffered a devastating fire a number of years ago and never really fully recovered. During the attempt to rebuild, the Malden owner continued to pay his employees their salaries which may have depleted the company's assets with no revenue coming in. Divestiture might have been Malden's only option.
11-08-2016 12:32 PM
Berkshire and Malden Mills (now PolarTec Corporation) are not the same company. Berkshire did not acquire Malden Mills.
Berkshire is based in Ware MA, while Malden Mills was originally based in Lawrence MA, although the company was bought from the original owner (bankruptcy). The new company is trying to leave Lawrence, moving its operations to Tennessee and Hudson NH. There is an ongoing discussion/fight and it is unclear what will happen in the end. The TN facility opened this fall but the Lawrence plant is still in operation, although presumably in a reduced capacity.
The bottom line is that Berkshire and Malden Mills (Polartec) are different companies.
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