Boat builder files Chapter 7
VIVIAN, La. – When the town of Vivian served boat builder Vivian Industries Inc. a notice in December that it had 30 days to sell the business or pay the more than $180,000 it owed the town, Mayor Stephen Taylor said he hoped this would speed up the Parker family’s negotiations with potential buyers.
But the mayor’s hopes didn’t come true. In fact, on Sunday, the company’s owners filed for Chapter 7 bankruptcy, according to an article today in The Shreveport Times. And, ironically, now that the town owns the business, the mayor himself will now be continuing those negotiations, the newspaper explained.
“The VIP name has long been a source of pride for this community and the company has at times been the largest employer in the area,” Taylor told the newspaper. “The loss of these jobs will be a significant economic hardship to many skilled workers and to the economy of the area as a whole.”
Taylor added that the town would “make every effort possible to facilitate the resumption of production in the facility.”
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