Friday, May 04, 2012
Lumber Products Inc. will begin the layoffs June 29 in an attempt to shore up its finances. It filed April 11 for Chapter 11 bankruptcy protection, which allows a company to reorganize. The 75-year-old firm distributes wholesale lumber and plywood supplies.
In a letter alerting state officials of the decision to cut its workforce, its bankruptcy trustee cited a downturn in business with no immediate prospects of recovery.
Read more at OregonLive.com.