<http://schema.org/description>
"Worldtex Inc (OTC Bulletin Board: WTXI), the supplier of covered elastic yarn and narrow elastic fabric, has failed to make the $8.4 million interest payment due today on its 9-5/8 % Senior Notes.  The company has said that it will take advantage of the 30-day grace period permitted under the indenture governing the Senior Notes. It will use this time to continue discussions with an unofficial committee of creditors&amp;amp;nbsp;with a view to a potential restructuring of Worldtex&amp;#39;s capitalisation."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.just-style.com/news/worldtex-holds-payment-pending-restructure_id74946.aspx>