121-year-old Springvale yarn-manufacturing factory to close
Springvale-based Jagger Bros. Inc. told its 40 employees last week that it plans to close by the end of March its yarn-manufacturing division that has been in operation for 121 years.
The Biddeford Journal Tribune reported that company owner David Jagger plans to keep open a separate division — Jagger Spun — which provides yarn for small production facilities and yarn shops. Jagger Spun will continue at the Water Street location with a small workforce.
The company did not state how many of its 40 employees would lose their jobs.
Jagger told the Journal Tribune that the company recently was notified by its largest customer that it would be importing yarn from offshore rather than buying from Jagger Bros.
“We were faced with an untenable situation,” Jagger told the newspaper. “I chose to end operations.”
The company plans to notify the Maine Department of Labor and will be meeting with its benefit consultants to coordinate health insurance options and other benefits implications for the affected workers.
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