Businesses Closed

Multiple Factories Close in Montgomery

Store Closed

City Hit by Butterball, Caterpillar Factory Closures  Montgomery, Illinois was hit by not one but two recent factory closing announcements– one from Caterpillar Inc. (NYSE:CAT) and one from BUTTERBALL, LLC–which will impact hundreds of workers in the area.

Michael Kors to Close Up to 125 Stores as Sales Collapse

Store Closed

Michael Kors Holdings Ltd (NYSE:KORS)—the luxury brand known for its handbags, footwear, jewelry, and clothing—announced it will close up to 125 stores due to plunging sales. Management said the company’s restructuring will help it improve profitability. The retailer expects the store closings to result in a $125.0-million expense, but they will help the company save (more…)

Guaranty Bank Fails, 107 Branches Close

SHUT DOWN

Wisconsin-based Guaranty Banks is no more. The bank, with over 100 branches across the country (doing business as Best Bank in Georgia and Michigan), was closed by regulators. About 500 bank employees were laid off. Guaranty Bank is the fifth Federal Deposit Insurance Corporation (FDIC)-insured institution to fail in the U.S. this year.

Parent Company of Winn-Dixie Announces Store Closures, Job Losses

Store Closed

Southeastern Grocers LLC—the parent company of BI-LO, Harveys, Winn-Dixie, and Fresco y Más grocery stores—announced that it will be closing 20 stores. This is expected to lead to an unspecified number of layoffs. Southeastern Grocers is the fifth-largest conventional supermarket chain in the United States and the second-largest conventional supermarket in the southeast U.S., based (more…)