This article
appeared in The
Mayor worries about ‘domino’ effect of possible Fenton closure
By JOLENE CRAIG, Staff Writer
WILLIAMSTOWN — Businesses and communities on both sides of the
“If it comes to that, our town would be affected,” said Williamstown Mayor Jean
Ford. “It will be a domino effect for our city.”
Keith Burdette, president of the Wood County Development Authority and the Area
Roundtable, said a possible closing of Fenton indirectly will affect many
businesses in the area.
“Fenton is a significant tourist draw for the entire
Ford said restaurants such as DaVinci’s and the
Comfort Inn in Williamstown would lose business.
“It would just devastate us,” she said, “not to mention all of the things the
Fenton family has done for Williamstown.”
Burdette said the impact to tourism and other businesses is not the most
important aspect of a possible closing.
“It’s the 156 jobs that is our first concern,” Burdette said.
On July 2, the company issued a Worker Adjustment and Retraining Notification
Act (WARN) notice to local officials and the state, informing them of the
possibility all positions at the plant would be eliminated between Sept. 2 and
Sept. 15 of this year if restructuring alternatives are not established by
those dates, according to Fenton Art Glass President George Fenton.
The WARN notice states if the company is not able to get new investors, cannot
restructure financing or cannot sell the company in time, they will close, Ford
said.
Burdette said this particular WARN notice is unusual because it gives the
company a way out of closing.
“This sets the possibility of staying open where most WARN notices state ’we
are closing on this date,’” Burdette said. “It is a good thing they have kept
that option.”
The WARN notice is part of the restructuring plan, Fenton said. “Things are
progressing, and we continue to work to keep the factory open.”
The company announced the restructuring plan June 29 citing poor sales and
rising costs, officials said they hoped to keep the business open while looking
for new investment opportunities and ways to cut costs.
Newmarket Partners LLC of Cleveland is acting as the
financial advisory firm for the company in developing the restructuring plan,
and the state and the Wood County Development Authority are helping in anyway
they can, Burdette said.
“Short of handing them a checkbook, we’re trying to provide resources to help
them,” he said.
Last month, officials with the Wood County Sheriff’s Tax Office said the
company owes $157,627.16 in personal property taxes and $72,535.38 in real
estate taxes, a total of $230,162.54 due. The taxes represent fiscal year 2006
and do not include any current taxes owed by the company.
Officials with the tax office said the business has until Nov. 13 to pay the
real estate taxes owed or risk the property being put up for sale by the
county.
Company officials have said they hope to avoid layoffs if suitable revenue
streams can be found. The company has had several rounds of layoffs since 2001,
but some employees have been rehired. Fenton said no decisions have been made
concerning the restructuring.
“When we know what is going on and how things are progressing, we will make an
announcement,” Fenton said.