Unifi, Inc. announced that its Board of Directors is exploring strategic alternatives to improve shareholder value, including expanding within the textile industry, restructuring outstanding debt, moving into non-textile businesses, merging or selling the company, or moving to lower-cost locations.
There can be no assurance that the company will enter into or consummate any transaction or as to the terms or timing thereof.
The company stated it does not expect to update its progress or disclose developments with respect to the exploration of strategic alternatives unless the Board of Directors has approved a definitive transaction.
The company had cash-on-hand at the end of the current September quarter ended September 25, 2005 of $90.7 million.
