FALL RIVER, Mass. – Quaker Fabric, which suspended operations in early July, filed for Chapter 11 bankruptcy protection today.

The company and its subsidiary, Quaker Fabric Corp. of Fall River, filed voluntary petitions in U.S. Bankruptcy Court in Delaware.

Quaker’s affiliates outside the United States were not included in the Chapter 11 filing. Although the filing did not identify those affiliates, Quaker has warehousing and distribution facilities in Mexico and Brazil, as well as sales offices in Great Britain and the Middle East.

In the filing, Quaker said it has assets at book value of $155.2 million and debt of $60.4. Among the industry suppliers listed among the 40 largest unsecured creditors are:

+ Unifi, owed $3.2 million
+ Hangzhou Zhongwang Fabric, $1.3 million
+ Seko Worldwide, $471,658
+ Carolina Yarn Processors, $453,739
+ American Fibers and Yarns, $350,124
+ Regifil, $317,301
+ National Spinning Co., $302,354
+ Regitex, $274,430
+ Noveon, $240,344
+ Burke Mills, $195,464
+ Huntsman Textile, $181,149
+ American Dornier Machine, $139,428
+ Crypton, $127,575
+ Texturing Services, $112,338
+ Tuscarora Yarns, $94,572
+ Grover Inds., $90,776
+ Chesterfield Yarns, $36,414

On July 2 Quaker announced that it likely would commence an orderly liquidation of its business and a sale of its assets and that any such winding up and liquidation would not generate sufficient funds to permit any payment to holders of its common stock.

On July 9 the company retained a liquidation advisory firm to consult with management on the liquidation of the assets. This process has been ongoing, with Quaker seeking bids for the purchase of the company as a whole, or of its assets.

The company also said it has reached an agreement for up to $1.65 million in new debtor-in-possession financing, pending court approval.