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

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HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!