Crafts Manufacturer Files for Bankruptcy
Posted on Jun 17, 2011 5:05pm PDT
Westrim Crafts has reportedly filed for bankruptcy. According to reports, the company filed Chapter 11 after suffering significant loses due to changes in retailer strategy and increased competition. The company reportedly suffered a revenue loss from $125 million in 2005 to $30 million in 2010. The company has reportedly sold products to Walmart and Jo-Ann Fabrics, but hasn't had recent success in these markets.
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