Percival Cabell Gregory Jr., was born on August 25, 1911 in Richmond, Virginia to P.C. and Aubrey Gregory. After living in Charlotte, N.C. a brief time, Gregory joined Cone Mills in 1933, came to Greenville as a trainee at Union Bleachery and became the plant's general manager in 1948. Subsequently he held various executive positions in the company and was elected senior vice president of Cone Mills Corp. in 1963. He retired in 1968 as a well-known Greenville businessman, the president of Cone Mills Corp. finishing division. Gregory served on the board of directors of numerous companies including Cone Mills, and was a member of a number of business and professional organizations.
Gregory was married to Harriet Maxwell Cogswell and they had two sons, P. Cabell Gregory, III and F. Cogswell Gregory. P.C. Gregory, Jr. died January 29, 1981 in Greenville.