Exhibit 4.14
                                                          CREDIT AGREEMENT DATED
                                                          AS OF DECEMBER 5, 1996

                                     WAIVER


                  WAIVER, dated as of March 27, 1998 (this "Waiver"), under the
Credit Agreement, dated as of December 5, 1996 (as amended prior to the date
hereof and as further amended, supplemented or otherwise modified from time to
time, the "Credit Agreement"), among COLLINS & AIKMAN PRODUCTS CO., a Delaware
corporation (the "Borrower"), COLLINS & AIKMAN CORPORATION, a Delaware
corporation ("Holdings"), the financial institutions parties thereto (the
"Lenders") and THE CHASE MANHATTAN BANK, a New York banking corporation, as
agent to the lenders thereunder (in such capacity, the "Administrative Agent").


                              W I T N E S S E T H:


                  WHEREAS, the Borrower and Holdings have requested the Lenders
to waive certain covenants in the Credit Agreement as set forth herein; and

                  WHEREAS, the Lenders are willing to waive such covenants in
the Credit Agreement on and subject to the terms and conditions thereof;

                  NOW THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by each of the parties
hereto, the parties agree as follows:

                  SECTION 1. Definitions. Unless otherwise defined herein,
terms defined in the Credit Agreement are used herein as therein defined.

                  SECTION 2. Waiver of Section 6.14 (Interest Coverage Ratio).
Section 6.14 of the Credit Agreement is hereby waived for the fiscal quarter
ending March 28, 1998; provided that such waiver is effective only if the
Interest Coverage Ratio is at least 1.75 to 1.00 for such fiscal quarter.

                  SECTION 3. Waiver of Section 6.16 (Leverage Ratio). Section
6.16 of the Credit Agreement is hereby waived for the fiscal quarter ending
March 28, 1998; provided that such waiver is effective only if the Leverage
Ratio is no greater than 2.50 to 1.00 for such fiscal quarter.

                  SECTION 4. Representations and Warranties. The parties hereto
hereby represent and warrant to the Administrative Agent and each Lender that
after giving effect to the waivers contained herein, each party hereto hereby
confirms, reaffirms and restates the representations and warranties set forth in
Article III of the Credit Agreement as if made on

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<PAGE>

and as of the Waiver Effective Date, except as they may specifically relate to
an earlier date; provided that such representations and warranties shall be and
hereby are amended so that all references to the Agreement therein shall be
deemed a reference to (i) the Credit Agreement, (ii) this Waiver and (iii) the
Credit Agreement as waived by this Waiver.

                  SECTION 5. Conditions Precedent. This Waiver shall become
effective as of the date hereof (the "Waiver Effective Date") when each of the
conditions precedent set forth below shall have been fulfilled:

                  (a) Waiver. The Administrative Agent shall have received this
Waiver, executed and delivered by a duly authorized officer of each of the
Borrower, Holdings and the Required Lenders.

                  (b) No Default or Event of Default. On and as of the Waiver
Effective Date and after giving effect to this Waiver and the transactions
contemplated hereby, no Default or Event of Default shall have occurred and be
continuing.

                  (c) Representations and Warranties. The representations and
warranties made by the Borrower in the Credit Agreement and herein after giving
effect to this Waiver and the transactions contemplated hereby shall be true and
correct in all material respects on and as of the Waiver Effective Date as if
made on such date, except where such representations and warranties relate to an
earlier date in which case such representations and warranties shall be true and
correct as of such earlier date.

                  (d) Acknowledgement and Consent. The Administrative Agent
shall have received from each of Holdings, the Borrower and the other Loan
Parties with respect to each Loan Document to which it is a party a duly
executed Acknowledgment and Consent, substantially in the form of Exhibit A
hereto.

                  SECTION 6. Continuing Effect of Credit Agreement. This Waiver
shall not constitute an amendment or waiver of any provision of the Credit
Agreement not expressly referred to herein and shall not be construed as an
amendment, waiver or consent to any action on the part of any party hereto that
would require an amendment, waiver or consent of the Administrative Agent or the
Lenders except as expressly stated herein. Except as expressly waived hereby,
the provisions of the Credit Agreement are and shall remain in full force and
effect.

                  SECTION 7. Expenses. The Borrower agrees to pay or reimburse
the Administrative Agent for all of its reasonable out-of-pocket costs and
expenses incurred in connection with (a) the negotiation, preparation, execution
and delivery of this Waiver and any other documents prepared in connection
herewith, and consummation of the transactions contemplated hereby and thereby,
including the fees and expenses of Simpson Thacher & Bartlett, counsel to the
Administrative Agent, and (b) the enforcement or preservation of any rights
under this Waiver and any other such documents.


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<PAGE>

                  SECTION 8. GOVERNING LAW. THIS WAIVER SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.

                  SECTION 9. Counterparts. This Waiver may be executed in any
number of counterparts by the parties hereto, each of which counterparts when so
executed shall be an original, but all counterparts taken together shall
constitute one and the same instrument.

                  IN WITNESS WHEREOF, the parties hereto have caused this Waiver
to be duly executed and delivered by their respective duly authorized officers
as of the day and year first above written.



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<S>                       <C>               
                          COLLINS & AIKMAN PRODUCTS CO.


                           By  /s/ J. Michael Stepp
                             Name:  J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer


                          COLLINS & AIKMAN CORPORATION


                           By  /s/ J. Michael Stepp
                             Name:  J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer



                          THE CHASE MANHATTAN BANK,
                            as Administrative Agent and as a Lender


                           By
                             Name:
                             Title:

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<PAGE>

                           BANK OF AMERICA NATIONAL TRUST AND
                           SAVINGS ASSOCIATION


                           By__
                             Name:
                             Title:



                          NATIONSBANK, N.A.


                            By
                               Name:
                               Title:


                          THE BANK OF NEW YORK


                            By
                               Name:
                               Title:


                          THE BANK OF NOVA SCOTIA


                            By
                               Name:
                               Title:


                          BANK OF TOKYO - MITSUBISHI TRUST COMPANY


                            By
                               Name:
                               Title:


                                       4

<PAGE>
                          BRANCH BANKING AND TRUST COMPANY


                            By
                               Name:
                               Title:


                          CREDIT AGRICOLE DE INDOSUEZ


                            By
                               Name:
                               Title:


                          CIBC INC.


                            By
                               Name:
                               Title:


                          COMERICA BANK


                            By
                               Name:
                               Title:


                          COMMERCIAL LOAN FUNDING TRUST I


                          By
                               Name:
                               Title:

                                       5

<PAGE>


                          COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK, B.A., "RABOBANK
                          NEDERLAND", NEW YORK BRANCH


                            By
                               Name:
                               Title:

                            By
                               Name:
                               Title:


                          CREDIT LYONNAIS, NEW YORK BRANCH AND CREDIT LYONNAIS ATLANTA AGENCY


                            By
                               Name:
                               Title:


                            By
                               Name:
                               Title:


                          CREDITANSTALT CORPORATE FINANCE, INC.


                            By
                               Name:
                               Title:


                                       6

<PAGE>


                          DRESDNER BANK, A.G.


                            By
                               Name:
                               Title:


                            By
                               Name:
                               Title:


                          FIRST NATIONAL BANK OF CHICAGO


                          By
                               Name:
                               Title:


                          FIRST UNION NATIONAL BANK OF NORTH CAROLINA


                            By
                               Name:
                               Title:


                          FUJI BANK


                            By
                               Name:
                               Title:


                          THE LONG-TERM CREDIT BANK OF JAPAN LTD., NEW YORK BRANCH


                            By
                               Name:
                               Title:


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<PAGE>

                          MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED


                            By
                               Name:
                               Title:


                          THE ROYAL BANK OF SCOTLAND, PLC


                            By
                               Name:
                               Title:


                          SOCIETE GENERALE


                            By
                               Name:
                               Title:


                          SUMITOMO BANK, LIMITED


                            By
                               Name:
                               Title:


                          THE SUMITOMO TRUST & BANKING CO., LTD.


                            By
                               Name:
                               Title:



                                       8


<PAGE>

                          SUNTRUST BANK, ATLANTA


                            By
                               Name:
                               Title:


                            By
                               Name:
                               Title:


                          THE TORONTO-DOMINION (NEW YORK), INC.


                            By
                               Name:
                               Title:


                          WACHOVIA BANK OF NORTH CAROLINA, N.A.


                             By
                                Name:
                                Title:


                          WELLS FARGO BANK


                             By
                                Name:
                                Title:


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<PAGE>

                                                                    EXHIBIT A TO
                                                                          WAIVER



                           ACKNOWLEDGEMENT AND CONSENT

         Each of the undersigned corporations hereby:

         (a) acknowledges and consents to the execution, delivery and
performance of the Waiver, dated as of March 27, 1998 (the "Waiver") under the
Credit Agreement dated as of December 5, 1996 (as the same may be amended,
supplemented or otherwise modified from time to time, the "Credit Agreement"),
among Collins & Aikman Products Co. (the "Borrower"), Collins & Aikman
Corporation ("Holdings"), the several banks and other institutions from time to
time parties to the Credit Agreement (the "Lenders") and The Chase Manhattan
Bank, as administrative agent to the lenders thereunder (in such capacity, the
"Administrative Agent"); and

         (b) agrees that such execution, delivery and performance shall not in
any way affect such corporation's obligations under any Loan Document (as
defined in the Credit Agreement) to which such corporation is a party, which
obligations on the date hereof remain absolute and unconditional and are not
subject to any defense, set-off or counterclaim.

Dated:  March 27, 1998
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<S>                       <C>
                          COLLINS & AIKMAN PRODUCTS CO.




                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer



                          COLLINS & AIKMAN CANADA INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Vice President and Chief Financial Officer


                          COLLINS & AIKMAN CORPORATION

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer

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<PAGE>
                          PACJ, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer


                          THE AKRO CORPORATION

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer


                          DURA CONVERTIBLE SYSTEMS, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer


                          GREFAB, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                              Title: Vice President


                          WICKES ASSET
                          MANAGEMENT, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                              Title: Vice President


                           COLLINS & AIKMAN INTERNATIONAL CORPORATION

                            By  /s/ Leonard F. Ferro
                             Name: Leonard F. Ferro
                             Title: Vice President, Treasurer

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<PAGE>

                          WICKES MANUFACTURING COMPANY

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                              Title: Vice President


                          WICKES REALTY, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                              Title: Vice President


                          AMCO CONVERTIBLE FABRICS, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer

                          COLLINS & AIKMAN PLASTICS, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer


                          HUGHES PLASTICS, INC.

                            By  /s/ J. Michael Stepp
                             Name: J. Michael Stepp
                             Title: Executive Vice President and Chief Financial Officer

                          COLLINS & AIKMAN PROPERTIES, INC.

                            By  /s/ Leonard F. Ferro
                             Name: Leonard F. Ferro
                             Title: Secretary and Treasurer
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