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200 Jobs Lost as Another NC-based Textile Co. Closes

In a letter to the North Carolina Department of Commerce, Spectrum Yarns said it would close its plants in Kings Mountain and Marion as of Tuesday this week. Spectrum says it was unable to secure credit from its two banks in order to remain open. Kings Mountain Mayor Rick Murphrey retired from Spectrum last year after working in sales there for more than 35 years. He says the city will feel the impact of the loss. "They've been a long time customer of our city. They're just a great customer, so now they have closed down. So we'll have to make adjustments in our revenue and expenses," he says. Murphrey says Spectrum generated several million in revenues for the city. In the past two weeks Hanesbrands announced it would close plants including one in Gastonia, eliminating about 140 jobs there. And Kohler announced it's closing a cabinet-making plant and cutting 522 jobs in Statesville.