GADSDEN, Ala. (AP) - Gildan company officials say they will close their four remaining sock mills in Fort Payne, the once-prominent "Sock Capital of the World."
The Canadian firm announced Wednesday that it will relocate production to a new facility in Honduras, taking about 280 jobs with it.
Company spokesperson Genevieve Gosselin said the moves are being made to respond to global competition and improve efficiency. Gosselin says the company has been trying to reduce costs to deal with the rising costs of raw materials.
The four sock-knitting plants are expected to end production in April.
Jimmy Durham, executive director of the DeKalb County Economic Development Authority, said the news is a blow to the region, which has lost many jobs in the hosiery industry in recent years.
Information from: The Gadsden Times, http://www.gadsdentimes.com