Local Business Could Be in Trouble

The writing may be on the wall for furniture manufacturer Eagle Industries, LLC, locks on the gate and the appearance of no major work being completed.

For, employees of Eagle Industries it came out of nowhere.

"We never saw this coming," said laid off maintenance worker at Eagle Industries Larry Gammons.

Workers were originally told someone else was going to take over the business.

"We were actually being told that, the new investors had already signed a letter of intent to purchase Eagle Industries, and that we were just being laid off temporarily so an audit of financial books and everything else could take place," said Gammons.

"They said it may be a couple of weeks we'd be off because they had some new investors, and as far as I know I think they backed out, that's what I heard Monday, they backed out," said laid off maintenance worker at Eagle Industries Tom Mitchell.

Citizens First Bank filed a civil suit back in mid-March against Eagle Industries for defaulting on a loan.

Next, a restraining order was filed that would keep eagle from transferring or disposing of any personal property.

"Upon March 22nd I had gone up to eagle to retain the rest of my tools that I had at eagle industries, and at that point I was told the bank had taken over and that bank receivers now controlled Eagle Industries," said Gammons.

Finally on March 22nd a receiver was appointed, LS Associates LLC.

According to a court document, they will take possession of Eagle Industries property including inventory, vehicles, furniture, accounts, and more.

Now, former employees aren't certain where they'll be.

"I'm not sure. I applied for unemployment for now to tie me over until I can find something else because I know the economy's bad and it's going to be hard to get a job," said Mitchell.

"I'm mentally preparing myself for a transition back to putting out resume's and trying to obtain a job back within the community," said Gammons.

As of now, they haven't been notified of any possible return.

Eagle Industries did not return any of WBKO's phone calls for comment on the story.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus