Culp, Inc., a leading provider of fabrics for bedding and upholstery, has completed the sale of its mattress fabric manufacturing facility in Quebec, Canada. The sale, part of a restructuring plan initiated a year ago, was finalized at a purchase price of CA$8.6 million (USD$6.2 million). The company received CA$2.0 million (USD$1.4 million) at closing, with the remaining balance to be paid over the next six to 12 months. The proceeds will be used to reduce outstanding debt and enhance financial flexibility.
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