OSAGE – Fox River Mills, a sock manufacturer in Osage, Iowa, is closing its doors, according to reports from Nester Hosiery, which is acquiring the plant.
The company, which had been in business for 125 years, is selling its assets to Nester Hosiery, which will relocate production to North Carolina. Approximately 105 employees will be laid off, with the closure slated for October 10. Nester Hosiery plans to open a product development and customer service center in Osage to retain some local jobs and expertise.
The acquisition is expected to impact the Osage community, with a WARN notice (on Iowa’s employment layoff notice site) indicating the layoff of 105 workers.
Manufacturing operations will be moved to Nester Hosiery’s headquarters in Mount Airy, North Carolina, according to reports.
Annual events like Fox River’s Annual Sock Sale, always held in October at the Mitchell County Fairgrounds, could be in jeopardy, also.
The closure is reportedly due to the sale of the company to private equity firm LongWater in 2016, followed by the recent acquisition by Nester Hosiery.
Nester Hosiery will integrate the Fox River, Pistil, and Anywear Essentials brands and plans to continue producing socks for the U.S. military, the company claims. The Fox River brand is expected to continue under Nester Hosiery, focusing on product development, customer service, and American-made manufacturing.
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