A commercial modular building manufacturer has closed its plant in Elkhart County. In a notice to the state, Mark Line Industries LLC says the closure came after unsuccessful attempts to negotiate a lease extension for the building in Bristol, leaving 73 employees out of work.
Mark Line says most of the layoffs took place Monday, with a few staying on to take care of the final wind-down activities at the facility. The company says it thought a deal was in place in April to extend the lease agreement, but the building's owner informed the company it would soon be evicted.
"Realizing at that point that no deal with the landlord was possible, we began looking for a new facility to locate to," Mark Line said in its notice to the state. "Unfortunately, we have been unable to timely secure an alternative facility. To make matters worse, our senior lender swept our bank account and has not allowed us to use any cash or receivables to pay expenses. From mid-April on, payroll has been funded by cash infusions from ownership. However, we were informed that Mark Line's owners will not continue to fund payroll.
The closure is expected to be permanent. Mark Line also has locations in Pennsylvania and North Carolina.
By Kate Arndt Financial Planning Coordinator, Bedel Financial Consulting Inc.
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