Pillowtex Corp.

KANNAPOLIS -- Pillowtex Corp., the Dallas-based company that bought Fieldcrest Cannon Inc. in 1997, got the stuffing knocked out of it. Chairman and CEO Chuck Hansen, who engineered the deal, resigned after Pillowtex reported a third-quarter lass of $18.3 million -- $38 million for the year to date. It has defaulted on $650 million of loans and filed for bankruptcy protection from creditors. Its stock, which traded as high as $50, had plunged to under $1. The company promoted CFO Tony...