Penloyd Closes Its Tulsa Shop

News On 6

TULSA, OK -- The economy in crisis claims another victim.  This time a Tulsa company struggling to stay in business goes under.

Penloyd laid off 187 people last week, but hoped to stay open with a skeleton crew.  The News On 6 learned from a source inside the company on Wednesday that the remaining 65 staff members have been let go.  

Related story: 1/8/2009  Penloyd LLC In Tulsa Lays Off 187 Workers

A manager tells The News On 6, a bank rescinded its line of credit to Penloyd.  A News On 6 source says without cash, the shop closed, and revoked its promise of vacation and benefits compensation.

Penloyd makes display cases for department stores.