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.
"As of December 31, we had 50 employes, 46 in Groton," Graham said. "Today there are six people on the payroll, all in Groton."
In a separate story, The Day reported that three former Tee's Plus employees had opened up a new apparel distributorship, R&B Apparel Plus. Richard Bernardo Sr., Bonnie Gagnon and Pat Jullarine all formed the company after being laid off this year, with the help of Jay Reid, owner of Shoreline Screen Printing.
For the full story, visit TheDay.com.