Business Services Industry
Stockholder Dispute Shuts Everite Mills.(Originated from The Patriot-News, Harrisburg, Pa.)
Knight Ridder/Tribune Business News, June, 1996 by Heckathorn, Mark E.
LEBANON, Pa.--Jun. 21--The 250 employees at Everite Mills were told yesterday afternoon that they would lose their jobs and the sewing factory would go out of business at the end of the day.
Company President Tony Pechenik, in making the announcement about 1:30 p.m., blamed the closing on a stockholder dispute that led the company to lose its credit lines and financing.
Representatives from the Lebanon Job Center were at the plant at Lincoln Avenue and Lehman Street to help the workers apply for unemployment benefits and offer assistance in finding other jobs.
Everite Mills, founded in 1935, produced knitwear for companies such as L.L. Bean, Esprit, Polo, Banana Republic, The Gap, Patagonia and The Limited. After a failed leveraged buy-out attempt in...
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