Cone seeks recap for Mexico expansion; some opposed

Greensboro, NC — Cone Mills Corp. has cut a deal with WLR Recovery Fund II L.P., a private investment fund, to sell WLR up to $27 million in convertible notes, a move that will support a recapitalization of the company's balance sheet and allow the expansion of its Mexican denim operations. WLR now holds 50 percent of Cone's bank debt and a portion of its bonds. Shortly after the announcement, a shareholders’ group that owns about 11 percent of the company’s stock issued a statement opposing the proposed rights offering and urging its rejection by shareholders.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!