Pillowtex, the company that manufactured our favorite towels, Cannon, Fieldcrest, Royal Velvet, and some others, has declared bankruptcy and has closed it's plants. Mgmt says they can't compete with the foreign textile mills. A new company was formed that is buying the Pillowtex assets, but it remains to be seen if they resume manufacturing operations, move off shore, or sell off various operations.

 

Yes, I learned about it the day it happend July 31st, I have already switched to a different kind of Supima towel (Fieldcrest Charismas where Supima cotton, the best kind of towel cotton) supplier.