Virginia printing company to lay off about 240 workers
RICHMOND, Va. (AP) — A Virginia printing company has abruptly closed “some or all” of its sites and is laying off about 240 workers.
The Richmond Times-Dispatch reports Colortree Group Inc. says the layoffs started Monday. The Henrico County-based company didn’t provide a reason for the closure in a Monday letter notifying state and local officials of the move. The letter says the layoffs are permanent and involve jobs in production, maintenance, administration and management, including the role of chief operating officer.
In 2011, the Colortree Group had 185 workers and brought in about $32 million in revenue. In 2016, it had 235 workers and made $60 million in revenue. It reported $57 million in sales last year. The newspaper says attempts to contact company president and CEO James Patterson were unsuccessful.
Information from: Richmond Times-Dispatch, http://www.richmond.com