New York - As part of its resturcturing of the Burlington House division, Burlington Industries, Inc. announced it has signed a definitive agreement with Richloom Fabrics Group, Inc. for the sale of Burlington's residential upholstery business. The company also announced it will sell to Bacova Guild, Ltd. its bath consumer products assets. Both sales would include certain inventories and intellectual properties. Additional details of the transactions, including the effect to operations is still, to be determined.

Burlington Industries filed voluntary petitins for Chapter 11 bankruptcy in November 2001.

According to a press release, the sales are part of the division's strategy to focus on growing its fabric business with products that have good market share and acceptable profit potential Going forward, the division will supply fabrics for mattress coverings, bedding and window products and commercial fabrics for hospitality and corporate customers.

Commenting on the restructuring, Geroge Henderson, III, chariman and CEO said the actions support the company;s strategy and provide the Burlington House division with a more sustainable manufacturing base. "These changes will allow us to focus our strong jacquard and decorative weaving capabilities on innovative products where we have a leadership position and bring distinction and value to the market."