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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (36754)	7/30/2003 8:06:41 PM
From: EL KABONG!!!	Respond to of 74559

Pillowtex filed for BK today. They were one of the largest textile firms in the US. I think that they're privately owned. Nonetheless, that's about 8,000 jobs down the tubes. They market under the brand names of Fieldcrest, Cannon and Royal Velvet. Whatever of value that can be salvaged from the financial remains will likely go to Bank of America, who is the principal note holder. There is a strong possibility that nothing will remain for the employees, who claim to have lost everything, including their last few weeks of pay, their pension funds and all insurance benefits. KJC Edit - Correction. I couldn't find their stock symbol at first. Now I find that they were a public company, symbol PWTX.