SALANT <QSLT> FILES REORGANIZATION PLAN Salant Corp said it and its Thomson Co Inc and Obion Co Inc subsidiaries have filed a joint reorganization plan with the U.S. Bankruptcy Court and expect to emerge from Chapter 11 bankruptcy in the near future. The company said a hearing on the adequacy of the associated disclosure plan is scheduled for April Nine and completion of the plan is subject to approval by creditors, equity security holders and the bankruptcy court. Salant said it has reached agreement for Ray W. williams to continue as president and chief executive officer for five years from the effective date of the reorganization plan and has substantially concluded talks for a new 15 mln dlr unsecured credit, effective the same date. The company said the committee of its unsecured creditgors and the committee of its equity security holders have approved the terms of the plan. As previously announced, creditors will receive 450 mln dlrs in cash, 500 dlrs of 13-1/4 pct senior subordinated debentures and four common shares for each 1,000 dlrsd of allowed unsecured claims. Salant today reported earnings for the year ended November 29 of 1,596,000 dlrs, after a 1,600,000 dlr pretax provision for loss on the sale of a subsidiary but before a 9,400,000 dlr post-tax charge attributable to costs and expenses of Chapter 11 and the settlement of pre-Chapter 11 claims, as well as a 2,712,000 dlr tax credit. A year before, it lost 8,084,000 dlrs after a 6,600,000 dlr pretax provision for plant closings.