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.

“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