AM I NEXT? NO LOVE — UNANNOUNCED SHUT DOWN AT NORTH AMERICAN COMMUNICATIONS

Am I Next? Sudden Shutdown at North American Communications.

Duncansville, Pennsylvania-based North American Communications, a large vertically-integrated direct mail printer and fulfilment company has shut down its 180,000 square-foot Duncansville production facility with little notice to its workforce of up to 270 employees. The 40-year-old company was unable to secure additional operational capital or pursue a sale or merger to another entity.

The financial situation is complicated due to an ongoing legal battle with the founder and his family. Efforts to transition in-process work to competitors is underway. The company was trying to raise additional capital to increase the Duncansville production capacity to handle work from its sister facility located in Juárez, Mexico which was closed in March 2019 impacting another 650 foreign workers..

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT JULEP

Am I Next? Mass layoff at Julep - Seattle, Washington.

Online cosmetics and personal care products marketer Seattle,Washington-based Julep has hit the skids and will be laying off 102 employees as they move their headquarters to New York City, New York and close their local stores.

This is a classic entrepreneurial tale where the story sells the concept, attracts significant venture capital, and then fails to scale or the parent company simply runs out of cash.

Julep, founded in 2007 by former Starbucks and Boston Consulting Group executive Jane Park, hit a rough spot when it was accused of using deceptive ‘negative option’ marketing tactics in their subscription box sales of beauty and personal care items and was ordered to pay a hefty fine.

The company was acquired shortly after the settlement by the New York City-based Glansaol in December 2016 with the intent to supplement the company’s portfolio of synergistic beauty companies. Glansaol (meaning pure life’ in Irish) was founded by former Revlon President and CEO Alan Ennis, an Irishman, and financed by the private equity firm Warburg Pincus to market beauty and personal care products and has filed for Chapter 11 pending the sale of certain assets to AS Beauty including beauty brands like Julep, Laura Geller,and Clark’s Botanicals.

According to a statement by Glansaol CEO Nancy Bernardini, “The board and management team have thoroughly assessed all of our strategic options and are confident that the proposed sale process represents the best path forward for the company. We are pleased to have entered into an asset sale agreement with AS Beauty and are excited for the company’s future.”

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT VER (VIDEO EQUIPMENT RENTALS)

Am I Next? Layoffs at VER (Video Equipment Renals) and PRG (Production Resources Group)

Glendale, California-based Full Throttle Films LLC, doing business as VER (Video Equipment Rentals), recently emerged from Chapter 11 bankruptcy and merged with Production Resources Group LLC to form one of the world’s largest suppliers of audio, video, lighting, cameras and rigging equipment to entertainment, broadcast, and corporate productions.

The company has announced that the integration and restructuring of the two companies will impact approximately 260 employees, 79 of which are located at their Glendale, California campus.

The consolidated company will be managed by The Jordan Company, GSO Capital Partners, and PRG Management with Jere Harris serving as chairman and CEO .

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you wondering, Am I Next?