Broder Bros Co has warned its noteholders that if they do not allow the company to trade old debt for new debt, the company will file for Chapter 11 bankruptcy. The company has $225 million in senior notes due next year. They need $220.5 million to be traded in order to avoid bankruptcy.

The company distributes Columbia, Hanes and Fruit of the Loom clothing brands and is based out of Pennsylvania. The exchange offer expires on May 14, but the company is offering a larger incentive for noteholders to agree by April 30.

If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.