Business Services Industry
Nashua, N.H., Company Bolts Doors, Sends Employees Home Without Paychecks.
Knight Ridder/Tribune Business News, February, 2002
By Brad Leighton, The Telegraph, Nashua, N.H. Knight Ridder/Tribune Business News
Feb. 10--NASHUA, N.H. - The International Paper Box Machine Co., one of Nashua's oldest manufacturers, bolted its doors shut Friday, sending 72 employees home without their weekly paychecks, a company official said.
Furthermore, the company faces allegations of mismanagement of its employees ' retirement accounts and some $90,000 in fines from the state Department of Labor.
"We're a little Enron," said David Page, an employee.
One of the company's foremen, Bruce Nickson, informed the employees that the company was closing because its financier, GE Capitalization Corp., pulled its loan, several employees said.
"GE Capital was the lender...
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