Unifi (UFI) announced the closing of the sale of its manufacturing facility in Madison, North Carolina, to a third-party buyer for $45M. Net proceeds of $25M were used to reduce its term loan, and $18.3M to reduce revolving loans, reducing debt principal by approximately $43.3M. Unifi expects over $20M in estimated annualized operating cost savings from higher utilization and more efficient operations in its Americas segment once transition activities are completed.
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