In 1849, merchant Ivan Ivanovich Torshilov opened a paper-spinning manufactory on the Vyborg side of St. Petersburg. The project of the building of the paper-spinning building, proposed by architect A.N.Rokov, was approved. The construction of this five-storey building took less than two years. The central factory building is equipped with a chimney and an electrical workshop, i.e. a boiler room. Then one-story buildings were attached to the paper-spinning building, in which offices were located. Thus, by 1856, a spinning mill was built on the banks of the Bolshaya Nevka. At the same time, the architectural features of this complex do not deviate from the norms adopted in St. Petersburg in the first half of the XIX century during factory construction. The central building is located away from the red line, on which one-story office buildings are located. At the same time, symmetrical sections of the building are directed inside the adjacent territory.In the early 1870s, the factory area was expanded due to the superstructure of one side wing. The superstructure houses another energy center and newly formed production workshops.

Torshilov's household affairs were progressing successfully, the factory was flourishing. In 1868, he retired and handed over the reins to his son Ivan. But, having gained full independence after the death of his father, the young Torshilov did not pay due attention to business issues, the state of production deteriorated significantly. Then Ivan came up with the idea of committing a fake bankruptcy, which consists in the fact that he takes out insurance for the factory, after which he rewrites the production in the name of a close relative of his wife, merchant Dmitry Sokov. Soon Torshilov declares himself insolvent, and the factory, accordingly, passes to Sokov, i.e. remains in the family. Everyone did so, but after a short time, Sokov informed Torshilov that the spinning production now belongs exclusively to him. After a short reflection, he organized the arson of the factory, hoping that later he would be paid insurance. An investigation was conducted, which, having found out the accompanying circumstances, proved that the company was set on fire intentionally, and Torshilov himself participated in this. As a result, he did not receive the insurance amount.Over the next nine years, Sokov tried to rebuild the manufactory and increase the level of production, adding two more floors to the building. However, his efforts were not crowned with anything, the factory worked unproductively, and it had to be closed.In the last decade of the XIX century, the third stage of expansion and development of production begins. The Partnership of the Nevsky Thread Manufactory buys out the Torshilov factory. The building that was damaged during the fire was completely restored, and, closer to the embankment, another building was built, the project of which was drawn up by F.K. von Pirwitz. In addition, a number of buildings were built on the territory adjacent to the factory, intended for the residence of workers in production. Work has begun at the factory, whose name has changed to "Nevka Paper-Spinning Manufactory".In 1882, the production was acquired by the British industrialist John Coates.In the first decade of the XX century, the factory territory expanded due to the construction of a five-story weaving building on the adjacent site.

After the October Revolution, the production was nationalized, its name was changed to the Petrograd (and later Leningrad) spinning-thread factory "Red Thread". During the Great Patriotic War, the production process was suspended, the factory was evacuated. To date, the company "Red Thread" specializes in the production and sale of sewing threads.