Cone Mills says W.L. Ross wins auction

New York, Jan. 29 - Cone Mills Corp. said W.L. Ross & Co. won the bidding in auction.

A hearing to approve the sale is scheduled for Feb. 9 in the U.S. Bankruptcy Court for the District of Delaware.

The Greensboro, N.C.-based denim producer had an agreement to sell the bulk of its assets to W.L. Ross & Co. for $46 million. It did not disclose in a news release whether W.L. Ross increased its bid during the acution or whether there were other bids.

Cone Mills filed for bankruptcy on Sept. 24.

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