Skip to main content
You are the owner of this article.
You have permission to edit this article.
Edit
Global Brands Group files WARN notice for Triad plant
0 Comments

Global Brands Group files WARN notice for Triad plant

  • Updated
  • 0
{{featured_button_text}}

GBG USA Inc., doing business as Global Brands Group, has informed the N.C. Commerce Department that it may eliminate up to 78 jobs at its 4620 Grandover Parkway plant in Greensboro.

Commerce posted Friday the company’s WARN Act notice that was sent July 1. At least 30 members of its workforce were permanently let go July 1.

The company filed the notice because of the possibility that it may close the plant if it is not able to find a buyer.

The company said it “has been exploring several strategic options that would enable the company to continue go-forward operations.”

“Unfortunately, the company has recently determined that it is unable to secure adequate financing or consummate an alternative transaction in order to address its liquidity needs and continue full operations as it seeks a buyer or buyers for all or a portion of its business.”

Another group of employees were let go in the 90 days prior to the notice being filed. The company said those employees were let go “due to an integration of functions across brands and an elimination of duplication, which was separate and distinct from the concerns leading to the conditional WARN notices.”

336-727-7376

@rcraverWSJ

0 Comments

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Cana Development of Baltimore posted on social media this week that there are "just a few spots left" for food and beverage vendors for Stock + Grain Assembly at 275 North Elm, a mixed-use building under construction next to Truist Point stadium.

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News