P'tex assets on the block
March 15, 2004,
The liquidation of former Pillowtex Corp. assets continued here last week with the auction of computers and IT equipment from the Kannapolis, N.C. headquarters.
Gibbs and SB are part of GGST, LLC, which successfully bid $121 million for most of the bankrupt company's assets.
Still awaiting disposition are licensing arrangements for the Pillowtex brands that, at least until the October auction, were believed to carry the largest asset value. Those include Royal Velvet, Charisma, Fieldcrest and Cannon.