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Kannapolis: The Town a Billionaire Bought Twice On July 30, 2003, Pillowtex Corporation filed for bankruptcy — and by the end of that day, 4,340 people in Kannapolis, North Carolina had no job. It remains the largest single-day mass layoff in North Carolina history. But the collapse was only half the story. The CEO who left four months earlier went on to run Dollar General, serve as a U.S. Senator, and become the sitting U.S. Ambassador to China. And the billionaire who bought the ruined mill site and spent two decades turning it into a biotechnology research campus — David H. Murdock — died in June 2025 at age 102. Barely a year later, his company is selling off the remaining land to a new developer in a $500 million deal. This is the story of a town killed in a single day, resurrected by one man's obsession, and now changing hands again. Every figure in this video is sourced and timeframed — nothing here is invented. #Kannapolis #Pillowtex #americanhistory #kannapolis #pillowtex #northcarolina #davidmurdock #dolefood #americanhistory #urbandecay #deindustrialization #businesshistory #ruralamerica #ghosttowns #documentary 1. Pillowtex Corporation - Wikipedia https://en.wikipedia.org/wiki/Pillowtex_Corporation 2. David H. Murdock - Wikipedia https://en.wikipedia.org/wiki/David_H._Murdock 3. David Perdue - Wikipedia https://en.wikipedia.org/wiki/David_Perdue 4. How Kannapolis can inform the Canton mill closure - EdNC https://www.ednc.org/lessons-learned-from-the-pillowtex-mill-closure/ 5. Pillowtex Layoffs Hurt North Carolina Town - NPR https://www.npr.org/2003/08/21/1403951/pillowtex-layoffs-hurt-north-carolina-town

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