More P'tex stuff on the block
Michael J. Knell -- Furniture Today, March 10, 2004
ROCK HILL, S.C. — The liquidation of former Pillowtex Corp. assets is continuing here today and tomorrow with the auction of computers and IT equipment from the Kannapolis, N.C. headquarters.
Between now and July, a dozen auctions are scheduled to dispose of non-textiles machinery, equipment and furniture from various locations around the country. Textiles machinery and equipment is being sold on a direct basis by Gibbs International, while real estate, plants and other facilities are being sold on a direct basis by Keen Consultants and SB Capital.
Gibbs and SB are part of GGST, LLC, which successfully bid $121 million for most of the bankrupt company's assets last October.
Still awaiting disposition are licensing arrangements for the Pillowtex brands that, at least until the October auction, were believed to carry the largest asset value. Those include Royal Velvet, Charisma, Fieldcrest and Cannon.
Industry Related Content
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line