Unifi (UFI) said Wednesday it completed the sale of its manufacturing facility in Madison, North Carolina, to an undisclosed third-party buyer for $45 million.
The company said that $25 million of the net proceeds was used to reduce its existing term loan balance to $67 million, while $18.3 million was used to reduce its revolving loan balance to $5.6 million.
Unifi said it expects to realize more than $20 million in estimated annualized operating cost savings once all of its transition and restructuring activities are completed.
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