Milliken to acquire Thomas Inds.  

Dalton, Ga. – With its late-July filing for Chapter 11 bankruptcy, carpet manufacturer Thomas Industries, based here, has also filed to be acquired by diversified textiles supplier Milliken & Co.

Thomas Industries – which conducts its business under the Templeton Carpet, Monticello Floors, Mattel Carpet & Rug and Superior Yarn brand names – filed for Ch. 11 in the U.S. Bankruptcy Court in Rome, Ga. on July 28. As part of a court-supervised open auction process, Thomas also asked to sell substantially all its assets to LaGrange, Ga.-based Milliken.

The bankruptcy court is expected to decide this motion in the coming six to eight weeks.

Russell Grizzle, president of Milliken Floor Covering, said the bankruptcy court has approved a working capital line of credit to allow Thomas to continue operating during the bankruptcy period.

“As a result, Thomas reports that it is currently paying suppliers and fulfilling current and new customer orders on a regular schedule in the ordinary course of business,” he added.

Milliken said in a statement that it is pursuing the Thomas acquisition because it “sees strong synergies in a combination of the two company’s products and capabilities.”

Milliken intends to maintain Thomas’ two plant locations here and operate them without interruption during integration of the companies.

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

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

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!