BANCROFT APPAREL AND HEADWEAR TO REOPEN THIS WEEK

Bancroft Apparel and Headwear Company, which has run a plant in Cabot Arkansas since 1967, filed for protection from its creditors under Chapter 11 bankruptcy.

The company specializes in headwear for the military. The Defense Department's procurement arm says Bancroft owes the government $2.5 million dollars for 340,000 berets that were allegedly made with foreign materials and shipped sometime before March 2006.

Bancroft filed January 16th for protection from its creditors.

Although there were rumors that Bancroft was closing its Cabot facility, a release was issued last week saying the company will re-open its doors this week.