Food distribution company Performance Food Group Customized Distribution announced that it is closing down its facility in Austell, Georgia, almost 200 jobs in the process. The distribution center will be permanently shuttered by the end of June.
No soup for you! Soupman, Inc. (OTCQB:SOUP), the Staten Island-based soup restaurant inspired by the 1995 Seinfeld “Soup Nazi” episode, has filed for Chapter 11 bankruptcy. The Chapter 11 petition was filed in the United States Bankruptcy Court in Delaware.
General Motors Is Closing Two Plants for Longer Summer Breaks The biggest automaker in America, General Motors Company, is extending its summer factory shutdowns this year. At least two of the company’s factories will be closed for a longer period than usual, in order to scale back production.
The College of New Rochelle has laid off 32 people, including 10 tenured faculty members. The remaining employees let go were non-tenured instructional faculty, staff, and others from the administration.
Dennis Muilenburg, chief executive officer of the world’s largest aerospace company, Boeing Co (NYSE:BA), denies that moving some of the company’s aircraft completion work to China and other markets will affect its U.S. manufacturing workforce.
Subway, the country’s most ubiquitous chain, saw its number of stores shrink for the first time ever in 2016. The company lost 356 domestic stores in 2016, the first time the company has ever had a net reduction. The closing of 356 U.S. restaurants represents a 1.3% drop in the company’s total store count.
Vision Construction Co. Inc., a general contractor based out of San Antonio, Texas, announced that it has filed for Chapter 11 bankruptcy protection and is looking to reorganize the business.
Cardinal Health Inc (NYSE:CAH), a Fortune 500 healthcare company, announced it will be closing its facility in Halfmoon, New York this fall, jettisoning 37 jobs.
The troubles continue to pile up for beleaguered clothing manufacturer BCBG Max Azria Group, LLC. The upscale women’s clothing chain, which announced earlier in the year that it would shutter many of its brick-and-mortar shops and restructure its business, has hit a snag with its efforts to emerge from Chapter 11 bankruptcy protection.
Republican Paul Ryan may be Speaker of the United States House of Representatives and a vocal supporter of “Buy American,” but he couldn’t prevent General Electric Company (NYSE:GE) from closing a plant in his own district in Wisconsin and moving it to Canada.