By Brian Leaf
Staff writer Follow @@b_leaf Posted Aug. 2, 2016 at 11:01 amUpdated Aug 2, 2016 at 7:01 PM
ROCKFORD — Rockford Products LLC is planning to permanently lay off 171 people from its plant at 707 Harrison Ave. on Sept. 30 if it can’t find a buyer for the business.
The company filed a Worker Adjustment and Retraining Notification Act letter with the state on Monday. The U.S. Department of Labor requires that companies with 100 or more employees send WARN letters 60 days in advance of plant closings and mass layoffs to affected employees and state and local governments.
“We regret to inform you that circumstances will force Rockford Products LLC to conduct a mass layoff in the coming days,” CEO Dave Richeson said in the letter.
(…)Bloomberg.com said BlackEagle invests in a range of companies, including automotive parts manufacturers. It specializes in buying distressed companies, then increasing profits by cutting costs and streamlining operations.
Rockford Products was founded in 1929 as Rockford Screw Products. It initially made fasteners for the furniture industry, but transitioned into automotive and industrial fasteners and components when the furniture business left the region. The company operates out of a 580,000-square-foot facility in southeast Rockford that it leases from Harrison Kishwaukee LLC, a partnership between William Charles Real Estate Investments and developer Sunil Puri. (…)
via Rockford Products plans to lay off 171 on Sept. 30 – News – Rockford Register Star – Rockford, IL.