Discount retailer says it will file for bankruptcy, close stores if it can't find buyer
Discount retailer, Forman Mills says it is looking for a buyer and if those plans fall through, hundreds of people in Pennsylvania would be laid of...
Discount retailer, Forman Mills says it is looking for a buyer and if those plans fall through, hundreds of people in Pennsylvania would be laid off. Forman Mills has informed the Pennsylvania Department of Labor & Industry that if the stores close it plans to lay off 245 people in the state. The company submitted a WARN (Worker Adjustment and Retraining Notification) notice to the state dated June 12 and said it provided WARN notices to employees on June 5. Forman Mills said in the WARN notice that it is attempting to sell the company but if those efforts are unsuccessful, it will file for Chapter 11 bankruptcy and may begin the process of closing stores, which could close by Aug.