Cannon remained family-owned until 1982 when it was sold to Fieldcrest, becoming “Fieldcrest-Cannon”. The recently formed company was sold to Pillowtex Corporation in 1997, which went into bankruptcy in July 2003….Cannon Mills.
| Main offices of the Cannon headquarters, shortly before demolition in July 2005 | |
|---|---|
| Defunct | 1982 |
Did Fieldcrest towels go out of business?
Our former runner-up pick, Target’s Fieldcrest Reserve towel, was discontinued in 2020. Our former budget pick, Bed Bath & Beyond’s Dri-Soft towel, was also discontinued in 2020.
When did Fieldcrest Cannon Close?
2003
By the end of the World War I, the company was the nation’s largest towel producer. Cannon expanded his textile holdings and, in 1928, he consolidated nine plants into the Cannon Mills Company. Eventually part of Fieldcrest and later Pillowtex, the Kannapolis-based operations of Cannon Mills closed in 2003.
Who bought out Fieldcrest?
The Pillowtex Corporation
The Pillowtex Corporation, a maker of textiles for the bedroom, said yesterday that it would acquire Fieldcrest Cannon Inc., another maker of household linens, for about $400 million in cash and stock. Including debt assumption, the value of the transaction is more than $700 million.
Who owns Cannon towels?
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.
What happened to the Fieldcrest brand?
The department store chain’s new owners are putting a renewed emphasis on its home department. It’s bringing back home textile brand Fieldcrest in bed, bath, table linens and window coverings. By this summer, 90% of home textiles at Penney will be new, said senior vice president Stacey Shively.
Is Fieldcrest a good brand?
Fieldcrest has been the choice for quality bedding and bath since 1893. A brand rich in heritage, Fieldcrest provides consumers with soft, luxurious, elegant linens at a great price. Fieldcrest products include fashion bedding, bath towels, rugs, basic bedding and sheets. Fieldcrest is Livable Luxury.
Why did Target stop selling Fieldcrest?
The retailer has contacted all REDcard and Target.com customers who bought the sheets to offer full refunds. Target has terminated its relationship with Welspun for violating its code of conduct and standards of vendor engagement.
What towels are made in the USA?
Recap: Best Towels Made in the USA
- 1888 Mills Luxury Bath Towel – Softest.
- Authenticity50 Essential Cotton Towels – Best Value Towel Sets.
- Red Land Cotton Bath Bundle – Bundle Options.
- American Blanket Company Cotton Bath Towels – Color Variety.
- Towels by GUS Ringspun Cotton Towels – Ringspun.
