Tee's Plus To Close, According to CEO

Tee's Plus, a distributor and screen-printer based in Groton, Conn., will be closing in the near future according to Connecticut newspaper The Day. The company's chief executive officer, Allen Graham, reportedly told The Day that the company has ceased operations and is looking for a buyer.

Graham told the paper that the company has suffered due to the slow economy and lack of working capital, and that the company's debt exceeded its value. Tee's Plus has been forced to lay off most of its staff over the last two months.