-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Wmx+bqGCSQnehsTa1BKtKPDXE68LOPbYRc6Hi1gZ36TDgPfUOoSPspfI7+kA3XiQ
 /fCRV2o7EdL8cqkJYLkHsg==

<SEC-DOCUMENT>0000919574-04-001032.txt : 20040312
<SEC-HEADER>0000919574-04-001032.hdr.sgml : 20040312
<ACCEPTANCE-DATETIME>20040312154607
ACCESSION NUMBER:		0000919574-04-001032
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040101
FILED AS OF DATE:		20040312

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POLYMER GROUP INC
		CENTRAL INDEX KEY:			0000927417
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221]
		IRS NUMBER:				571003983
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0103

	BUSINESS ADDRESS:	
		STREET 1:		4838 JENKINS AVE
		CITY:			NORTH CHARLESTON
		STATE:			SC
		ZIP:			29405
		BUSINESS PHONE:		8037445174

	MAIL ADDRESS:	
		STREET 1:		4838 JENKINS AVENUE
		CITY:			NORTH CHARLESTON
		STATE:			SC
		ZIP:			29405

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RESTRUCTURING CAPITAL ASSOCIATES LP
		CENTRAL INDEX KEY:			0001012091

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14330
		FILM NUMBER:		04666079

	BUSINESS ADDRESS:	
		STREET 1:		450 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2126446800

	MAIL ADDRESS:	
		STREET 1:		2STAMFORD PLAZA STE 1501
		STREET 2:		281 TREER BLVD
		CITY:			STAMOFRD
		STATE:			CT
		ZIP:			06901

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BENNETT JAMES D
		CENTRAL INDEX KEY:			0001027829

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14330
		FILM NUMBER:		04666080

	BUSINESS ADDRESS:	
		STREET 1:		C/O BENNETT MANAGEMENT CORP
		STREET 2:		2 STAMFORD PLZ STE 1501 261 TRESSER BLVD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2033533101

	MAIL ADDRESS:	
		STREET 1:		C/O BENNETT MANAGEMENT CORP
		STREET 2:		2 STAMFORD PLZ STE 1501 261 TRESSER BLVD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p464636_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-01-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000927417</issuerCik>
        <issuerName>POLYMER GROUP INC</issuerName>
        <issuerTradingSymbol>POLGV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001027829</rptOwnerCik>
            <rptOwnerName>BENNETT JAMES D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BENNETT MANAGEMENT CORP</rptOwnerStreet1>
            <rptOwnerStreet2>2 STAMFORD PLZ STE 1501 281 TRESSER BLVD</rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001012091</rptOwnerCik>
            <rptOwnerName>RESTRUCTURING CAPITAL ASSOCIATES LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2 STAMFORD PLAZA, SUITE 1501</rptOwnerStreet1>
            <rptOwnerStreet2>281 TRESSER BLVD.</rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>600874</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Footnote 2</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>SubNote Convertible</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.29</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>240000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-01-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2007-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>32921</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>696570</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Footnote 2</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The $240,000 aggregate principal amount of 10% Convertible Subordinated Notes due 2007 (&quot;Convertible Notes&quot;) of Polymer Group, Inc. (the &quot;Issuer&quot;), which are currently exercisable for 32,921 shares of Class A Common Stock, were acquired as payment in kind interest on existing Convertible Notes beneficially owned by the Reporting Persons (as defined below).</footnote>
        <footnote id="F2">Shares held in accounts of various entities over which the Reporting Persons exercise investment discretion as either the principal of a General Partner or Investment Manager or  the General Partner or Investment Manager.</footnote>
    </footnotes>

    <remarks>(+)  Each of the Reporting Person and the joint filer disclaims beneficial ownership to the extent of their pecuniary interest therein.</remarks>

    <ownerSignature>
        <signatureName>/s/ James D. Bennett(+)</signatureName>
        <signatureDate>2004-03-12</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Restructuring Capital Associates, LP(+) by: /s/ James D. Bennett, Principal</signatureName>
        <signatureDate>2004-03-12</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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