Is Pillowtex still in business?
Pillowtex Corporation was a United States textile manufacturing company from 1954 to 2003….Pillowtex Corporation.
| Type | Private |
|---|---|
| Defunct | 2003 |
| Fate | Went into bankruptcy, assets sold |
| Successor | Iconix Brand Group |
| Headquarters | Dallas, Texas, Kannapolis, North Carolina |
What year did Pillowtex close?
2003
Pillowtex Corporation/Ceased operations
On July 30, 2003, Cannon Mills – Pillowtex Corp. at the end – closed its doors forever. The massive mill that gave birth to the town and nurtured it for more than a century was swept under in the collapse of the American textiles industry.
Who makes Cannon sheets?
Iconix Brand Group
Pillowtex declared bankruptcy in 2003, terminating 4,800 jobs in North Carolina. The Cannon brand is now owned by Iconix Brand Group: ICONIX BRAND GROUP, INC.
Who bought Fieldcrest?
Pillowtex
Cannon Mills
| Main offices of the Cannon headquarters, shortly before demolition in July 2005 | |
|---|---|
| Founded | 1887 |
| Founder | James William Cannon |
| Defunct | 1982 |
| Fate | Acquired by Fieldcrest in 1983, becoming “Fieldcrest-Cannon Corporation”, then sold to Pillowtex in 1997 |
When did Cannon Mills close?
1982
Cannon Mills/Ceased operations
Is Cannon Mills still in business?
The Cannon Mills Company was an American textile manufacturing company based in Kannapolis, North Carolina, that mainly produced towels and bed sheets….Cannon Mills.
| Main offices of the Cannon headquarters, shortly before demolition in July 2005 | |
|---|---|
| Industry | Textile |
| Founded | 1887 |
| Founder | James William Cannon |
| Defunct | 1982 |
What happened to Target Fieldcrest sheets?
One of Target’s vendors, Welspun Global Brands (Welspun), was one of the producers of Egyptian Cotton 500-thread count sheets under the Fieldcrest label for Target. As soon as our investigation confirmed the substitution, we pulled all remaining product from Target stores and Target.com.
Did Fieldcrest towels go out of business?
Cannon remained family-owned until 1982 when it was sold to Billionaire David Murdock. Murdock sold the company to Fieldcrest in 1985. The resulting name become “Fieldcrest-Cannon”. The recently formed company was sold to Pillowtex Corporation in 1997, which went into bankruptcy in July 2003.
Is Fieldcrest still a brand?
Although Fieldcrest Cannon had ceased to exist as a company, its name remained valuable to Pillowtex.
Who bought Cannon Mills?
By 1984, when Kannapolis incorporated, an estimated 30,000 people were employees of Cannon Mills. Cannon Mills was purchased by Pacific Holding Company and David H. Murdock in 1982. A $20 million renovation of downtown included the development of the Cannon Village shopping district.
Who owns Cannon towels?
Pillowtex declared bankruptcy in 2003, terminating 4,800 jobs in North Carolina. The Cannon brand is now owned by Iconix Brand Group: ICONIX BRAND GROUP, INC.
When did Pillowtex file for Chapter 11 bankruptcy?
Pillowtex filed a bankruptcy petition in the United States Bankruptcy Court on July 20, 2003. A Chapter 11 liquidating plan was confirmed, which created the Pillowtex Liquidating Trust. Overnight, 7,650 people were laid off (4,340 in its Kannapolis plant alone).
When did Pillowtex Corporation go out of business?
The company was officially declared bankrupt on October 7, 2003. The company liquidated over the following nine years, including machinery and brands. Pillowtex was established in 1954 in Dallas, Texas, as a pillow manufacturer.
When did Pillowtex start making bedding and sheets?
Pillowtex was established in 1954 in Dallas, Texas, as a pillow manufacturer. Over time, Pillowtex’s range of products extended to bed sheets, and mattress protectors.
When did Pillowtex acquire Fieldcrest-Cannon bedsheet company?
In September 1997, Pillowtex acquired the Fieldcrest-Cannon bedsheet company of Kannapolis, North Carolina for US$700 million in cash and stock. The acquisition tripled Pillowtex’s sales. Pillowext spent a further $133 million to consolidate operations, update plants to lower manufacturing costs and implement new information technology systems.