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Hosiery & socks makers top at plant closures

23 Apr '07
2 min read

A striking phenomenon has been noted among the spate of plant closures from the US textile industry currently facing trials and tribulations for survival.

Cheap textile imports, particularly of categories like socks, hosiery, underwear and innerwear from China and other Asian countries, appears to leave a telling effect on the list of plant closures recorded last year (2006).

National Council of Textile Organization (NCTO) has put up job loss figures on its official website that make an interesting study.

Hosiery, knit and socks sector job losses alone ran up to 3620 from a total of 7416 lost during 2006. This is almost 49 percent of the jobs from only thirty nine companies that shuttered within these three sectors, located in the States of North Carolina, Alabama, Kentucky and Virginia.

This undeniably presents a sad commentary of US textile heart belt that today seems to display no inclination, nor potential to survive.

Other notable industries that 'buckled under' (were fabric, yarn and denim makers and prominent in that list featured Avondale Mills (incl. plants), WestPoint Home (incl. plants), Collins & Aikman (two Roxboro and one Farmville - plants) and Dan River in Virginia.

Significantly, plants or units which closed engaged near about 100 personnel each.

Can one conclude that the US manufacturers are more production-oriented and less market-sensitive? Is it their 'inflexibility to fit in today's business model' as claimed by a famous US retailer (one among their ilk!) that's driving companies out of business even as cheap imports strike with debilitating manner on the domestic industry? Know more

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