Hampstead Factory

183-year-old giant tool company closes factory, lays off dozens

By Kirk O’Neil, Yahoo Finance

Underperforming store locations have been a major problem for various retail sectors, such as supermarkets, apparel shops, and drugstore chains, forcing retailers to close shops to eliminate a drain on liquidity.

Restaurants have also closed struggling locations to cut their losses, and now manufacturers are also closing underperforming facilities as well.

Giant tool company Stanley Black & Decker Inc. plans to close its underperforming Hampstead, Md., factory and lay off 55 workers, according to a Worker Adjustment and Retraining Notification Act notice filed with the FINISH READING HERE

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