A report from Jacksonville Business Journal revealed that a swimwear company based in Jacksonville and Dexter, Florida may soon start retrenching its workers due to the ongoing global financial crisis.
Venus Swimwear, with manufacturing centers in the aforementioned cities, has reportedly filed a notice in the Florida State late last week that it needs to let go of up to 240 people. This is due to American Capital Bank’s decision to pull out its financing in the company.
The workers in Dexter revealed that the company officials have already informed them that their jobs are already on the line because of this development. However, Venus officials stressed that the manufacturing plant remains open for the time being. The question remains as to how long this will continue without the swimwear company getting the much needed financing.
Venus is known for selling high quality swimwear, lingerie, bridal lingerie and women’s wear via retail stores, catalog sales and online.
The global financial crisis has affected major and minor business all over the world. The clothing industry is one of those who were hit heavily with this occurrence since consumers nowadays are tightening their belts when it comes to buying commodities.
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