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GoldToeMoretz To Close Burlington Plant

GoldToeMoretz LLC, Newton, N.C., a manufacturer and marketer of socks under its own as well as licensed brands, and also for private label programs, has announced it will close its plant in Burlington, N.C., and move production to its global supply chain. The closure will affect 430 employees, with layoffs in its finishing and knitting operations beginning in March and shutdown of all operations to be completed by mid-year.

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“Today we live in a global marketplace, which necessitates the expansion of our Canofil facilities in Mexico and our supply chain partners in Asia,” said Bill Sheely, executive vice president of operations. “We thank the past and continued commitment to the company of all associates at the Burlington facility. This was a very difficult decision, but allows us to continue to focus on the long-term goals of the company.”

Affected employees are eligible for severance benefits, and a Rapid Response Team deployed by the North Carolina Department of Commerce will assist workers in finding new jobs and/or training. The Rapid Response Team comprises representatives from state and local agencies such as the community’s work force development board, the employment Security Commission and the NC Community College System.

January/February  2008