Mt. Pleasant-based Promotions Unlimited recently closed its business putting 77 employees out of work, according to a filing the company made with the state Department of Workforce Development.
The company provided community-based retailers with products, advertising and merchandising solutions.
In a letter to the DWD, Promotions Unlimited president Lorraine Greenberg said the closure “has been prompted by unforeseeable business circumstances – namely, the sudden and unexpected refusal by the company’s lender, Franklin Capital, to provide the company with access to necessary financing to continue operations.”
A representative for Highland Park, Illinois-based Franklin Capital was not immediately available for comment.
Of the 77 employees who worked for Promotions Unlimited, 23 were salary and 54 were hourly. The company’s warehouse labor employees were represented by Teamsters Local No. 200.
The company shut its doors and laid off all of the employees on Jan. 27, said Wes Gable, business agent for Teamsters Local No. 200.
Employees had funds that were directly deposited into their accounts from their last paycheck removed electronically by Paylocity Corp., Gable said. He said the union will file a labor standards complaint.
A representative for Paylocity could not immediately be reached for comment.