By Chris Wright, The News On 6
TULSA, OK -- After laying off more than 180 people last week, a Tulsa company has shut down. Penloyd Manufacturing has laid off its remaining employees and closed its doors. A former employee told The News On 6 that after nearly three decades at Penloyd, he's not sure what he will do next.
A few years ago, business was booming at Penloyd Manufacturing on East Admiral. The company made display fixtures and wood cabinets for retail stores.
"Manufacturing is very competitive, so we're constantly trying to work for a lower cost, and work faster and smarter," said Penloyd CEO John McNicholas.
But, on Thursday, Penloyd's doors were closed and its parking lot was empty. The company said it was hit hard by the economic downturn. As retailers struggled, they ordered fewer displays.
Last week, the company laid off 187 employees. Only a skeleton crew of about 25 people remained to complete orders.
"We've been going through some tough times. We understood times are slow. By all accounts, we were going to get through this," said former employee Daniel Black.
A manager tells The News On 6 a bank cut off Penloyd's line of credit.
Daniel Black was one of those remaining employees, but he was let go on Tuesday. A worker there for almost three decades, it's the only career Black has ever had.
"Those people down there were like a second family to me. After 27 years, I like working down there. I would have been there," said former employee Daniel Black.
Black claims he was told he may not even receive outstanding pay or benefits. Still, he says he doesn't bear any ill will towards his employer of 27 years.
"It's been rewarding. It's a shame the way things are. A place like that would have to shut down. It's unfortunate," said former employee Daniel Black.
A shutdown has happened once before at the facility. The company, known as Oklahoma Fixture Company, filed for bankruptcy in 2003. It later re-opened as Penloyd.
Daniel Black hopes that will happen again when the economy turns around.
01/14/2009 Penloyd Closes Its Tulsa Shop