Forgot Password?

Sign Up for our

NEWSLETTER

TRY OUR SERVICES TODAY!

I am a
In the
Interested in
  • INDUSTRY NEWS

    • On August 26, 2014, it was reported, Norman Coley Sr., 52, president of upholstery manufacturer Lee Inds., died unexpectedly on Saturday, Aug. 23. Born May 27, 1962 to Bill and Dottie Coley, the founders of Lee Inds., he graduated with an engineering degree from North Carolina State University. Coley joined Lee Inds. in 1998 as a sales rep for the territories of Maryland, Virginia and Pennsylvania. He returned to Conover in 1995 and advanced to the position of company president.
    • On August 25, 2014, it was reported, Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price. In an open letter to the retailer's board of directors, Engine Capital and Red Alder stated that the company is "deeply undervalued" and could be worth $50 to $55 a share to an acquirer, or a 33- to 46.5% premium to its current stock price.
    • On August 25, 2014, it was reported, Burlington Technologies, a fabric maker based in Gibsonville, has acquired Keystone Weaving of Lebanon, Pa., according to a news release from Burlington and its majority shareholder. Burlington said in the release that the merger will create 26 jobs with more to come. Burlington, and its majority owner Banyan, of Miami, Fla., will buy the machinery owned by Keystone and install it in Burlington's 300,000-square-foot factory in Gibsonville. Burlington Industries, which was merged with Cone Mills under International Textile Group. It weaves jacquard fabrics for home furnishings and, through another division, produces fabric for corporate, healthcare and hospitality uses. Burlington has a yarn division as well. Burlington will begin moving looms in September and complete the process by November, according to the news release.
    • On August 22, 2014, Seattle-based Nordstrom, Inc. announced the closing on August 22, 2014 of its acquisition of Trunk Club, a leading personalized clothing service for men. The Company previously announced its proposed acquisition of Trunk Club by press release on July 31, 2014.