In Brief: Cone Cuts…Investment Divestment…VF, Duly Noted…MMM, MMM, Good
CONE CUTS: Bankrupt Cone Mills Corp. said late Wednesday that it will close two North Carolina plants and cut back on denim production at a third, resulting in a loss of 625 jobs. The plants to be shuttered are the Cliffside Finishing and...
CONE CUTS: Bankrupt Cone Mills Corp. said late Wednesday that it will close two North Carolina plants and cut back on denim production at a third, resulting in a loss of 625 jobs. The plants to be shuttered are the Cliffside Finishing and Haynes facilities, while manufacturing will be scaled back at the Cliffside Weave factory. All are located in Rutherford County. Chief executive John Bakane said the moves are being made to help Cone meet the challenge of an “unprecedented onslaught of cheap imports.”
This story first appeared in the October 9, 2003 issue of WWD. Subscribe Today.
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