A Westbury company that made fasteners for the airplane that Charles Lindbergh flew solo across the Atlantic has filed for Chapter 11 bankruptcy protection and notified employees that it could close by July.
John Hassall Inc. could lay off all 83 employees between July 28 and Aug. 10, the company said in a regulatory filing.
The potential closure is due to “economic” factors, according to the notice, which is required by the state Worker Adjustment and Retraining Notification Act. The act requires employers with at least 50 full-time employees to give a 90-day notice before a major layoff or closing.
Company officials did not return calls for comment Thursday. In a published report a financial consultant for Hassall, Richard Bennett, said the company has enough financing to continue operations, and it hopes to emerge intact from the bankruptcy proceedings.(…)
via Company that made parts for Lindbergh files for bankruptcy – Newsday.