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Apparel-maker Munsingwear Inc. has filed for protection from creditors under Chapter 11 of the bankruptcy code in U.S. District Court in Minneapolis. The company and its unofficial committee of creditors will seek the bankruptcy court`s approval for a reorganization plan they have negotiated. Munsingwear designs, makes, markets and licenses men`s and boys` apparel under the Grand Slam, Munsingwear, Penguin Sport and Penguin Club labels. Despite the debt, President Charles J. Campbell said he is confident ”that the operational and marketing turnaround of the company has been accomplished.”
