Woolrich has announced that it will be closing its ancient wool mill in Woolrich, Pennsylvania. The mill dates back to 1845, and is currently the oldest continuously operated mill in the U.S. The fabric manufacturing operations will cease by Jan. 1, affecting up to 40 jobs. The company said that the facility is no longer economically feasible because of higher manufacturing costs, eroding margins and continued unprofitability within the mill. The decision was made by Woolrich International, in concert with L-GAM Advisors, the Luxembourg-based private equity firm that bought a majority stake in the company in September.
Related articles
-
OpinionCorporate social responsibility - could this be a way to reduce staff fluctuation?
There has been a culture change towards employment in my lifetime: no longer are workers expecting jobs for life. The change has already happened but is sparking something greater with those affected. My graduating students realize they need work skills and know that a period of attachment with a brand ...
-
ArticleCourt lifts Swedish sales ban after Hövding’s bankruptcy - but there's a catch
It’s hard to understand what has been happening in Sweden for several months on Hövding’s back. The company, which had developed and sold a very popular airbag collar for cyclists, had to file for bankruptcy shortly before Christmas because the Swedish Consumer Protection Agency had banned the sale of the ...
-
News briefsSwiss Stromer and US bike fintech offer e-bike leasing in the US
Stromer, the Swiss e-bike technology pioneer, has partnered with Colorado-based The Sweet Spot, a bicycle fintech company, to offer long-term e-bike leasing and management in the US. This new leasing option makes Stromer’s premium Class 3 commuter e-bikes accessible to even more riders, supporting the brand’s mission to shape the ...