Well,
this one sucks. Take a stable company with a national brand that has been built up since 1936. Enter the 1990's and have the company be sold to two food companies, one of which imploded due to internal accounting fraud. Have it end up in the hands of an equity fund. Cue meltdown of equity markets.
Why do I feel that if the company had just maintained it's focus and sold cookies and not been treated as a financial poker chip, that everyone would still have a job? I also would like to know how they can duck the 60 day notice requirement if the parent company, Catterton, is still in business.
Read the blog at the bottom of the article where the current and previous employees are posting. Some of them make me want to cry and others make me so ****ing mad.
BTW, Michigan is/was a battleground state. Small towns like these were a Republican bastion which would offset the urban areas.
First question for the candidates - "How can the company violate federal law?"
Quote:
Archway & Mother's Cookie Company abruptly closed its headquarters in downtown Battle Creek Friday, leaving almost 60 employees to pack up their belongings and grasp for a rationale.
In a Friday e-mail to Mayor Mark Behnke, Jennifer Marquette, Archway's vice president for human resources, said the company was closing the office at 67 West Michigan Ave. effective Monday.
The move leaves 59 workers out of a job.
Marquette is based at the cookie company's Ashland, Ohio, manufacturing plant. Archway also has a plant in Kitchener, Ontario. The company is owned by Catterton Partners, a private equity firm based in Greenwich, Conn.
Marquette, who declined comment Friday, said in the letter the company was unable to provide the full 60-day layoff notice required in the federal Worker Adjustment Retraining and Notification Act (WARN) because of "unforeseeable business circumstances."
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Quote:
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Archway was founded in Battle Creek in 1936 and operated a bakery here until 1993. Parmalat Bakery Group purchased the company from Specialty Foods for $250 million in 2000. Parmalat sold to Catterton Partners in 2005.
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