Exhibit 12.3 Anvil Holdings, Inc. Computation of Ratios of EBITDA to Cash Interest Expense In thousands, except ratios Pro forma ------------------------------- Year Ended Three Months Ended ---------- ------------------ 2/1/97 5/3/97 EBITDA: - ------- Operating Income 24,705 (2,864) Depreciation & Amortization 8,245 1,928 Non-Recurring item 600 ---------- ------------- EBITDA 33,550 9,979 Cash Interest Expense 16,752 4,071 Ratio of EBITDA to Cash Interest Expense 2.0 2.5 ---------- ------------- ---------- -------------