Dexter Manufacturer 's Bankruptcy Will Cause Several Dozen Layoffs
March 29, 2019
Roughly 80 people will be out of a job as a Dexter manufacturing company has filed for bankruptcy. Dexter book manufacturer Thomson-Shore has offered production, publishing, printing, and distribution services since 1972. According to MLive, the company has filed for Chapter 11 bankruptcy protection, with plans to sell assets. The filing came this week, listing $14.5-million in assets, and $11.6-million in debts, per federal court documents. Thomson-Shore is being acquired by the CJK Group, based out of Minnesota, and which will continue operations at the current Joy Road facility.
Of the 177 employed, 80 are expected to be let go, and not offered employment. Lori Minnick, a vice president for CJK, said that they expect those losses to be permanent. She added that the plant is not closing, and that there will continue to be employees working for CJK, now, at the location.
The sale of Thomson-Shore to CJK is expected to be finalized, with the 80 workers losing their jobs, on May 6th. Facebook photo. (MK)