thevacomaticiec
Well-known member
Nooooooo...
Just saw that shopvac buyer walk away from the deal shop vac is done...
Williamsport, Pa. – The Shop-Vac Corporation will be closing. The company, which has over 1,700 employees worldwide, informed staff members this morning.
According to multiple sources, most of the employees lost their job today and a few administrative-level employees will remain through the end of the week. Not only were the employees informed they had lost their jobs, according to multiple employees who chose to remain anonymous, but they were also informed their insurance and benefits were terminated.
We regret that we were unable to provide you with more notice. The current global pandemic and economic crisis has left the Company in dire financial conditions. The Company accordingly had been negotiating the sale of the business as a going concern, which, if such sale has been completed, would have enabled us to stay in business and continue the employment of employees. We fully anticipated the sale to be completed and for the buyer to hire all employees,” stated a letter SHOP-VAC provided to its employees in accordance with the Worker Adjustment and Retraining Notification Act.
Unfortunately, the buyer without warning walked away from the deal. This unforeseeable business circumstance has left us with no choice but to close our facilities.”
The SHOP-VAC facility on Reach Road in Williamsport has over 400 employees, all of whom will be losing their jobs as a result of the closure.
SHOP-VAC Corp. is well-known for pioneering the concept of the wet/dry vacuum cleaner.
Northcentralpa.com
Just saw that shopvac buyer walk away from the deal shop vac is done...
Williamsport, Pa. – The Shop-Vac Corporation will be closing. The company, which has over 1,700 employees worldwide, informed staff members this morning.
According to multiple sources, most of the employees lost their job today and a few administrative-level employees will remain through the end of the week. Not only were the employees informed they had lost their jobs, according to multiple employees who chose to remain anonymous, but they were also informed their insurance and benefits were terminated.
We regret that we were unable to provide you with more notice. The current global pandemic and economic crisis has left the Company in dire financial conditions. The Company accordingly had been negotiating the sale of the business as a going concern, which, if such sale has been completed, would have enabled us to stay in business and continue the employment of employees. We fully anticipated the sale to be completed and for the buyer to hire all employees,” stated a letter SHOP-VAC provided to its employees in accordance with the Worker Adjustment and Retraining Notification Act.
Unfortunately, the buyer without warning walked away from the deal. This unforeseeable business circumstance has left us with no choice but to close our facilities.”
The SHOP-VAC facility on Reach Road in Williamsport has over 400 employees, all of whom will be losing their jobs as a result of the closure.
SHOP-VAC Corp. is well-known for pioneering the concept of the wet/dry vacuum cleaner.
Northcentralpa.com
