San Francisco, Dec 29 : David Belford , the US-based owner of United Furniture Industries who abruptly fired all of its 2,700 employees in one night last month and disappeared, has resurfaced, saying he is "devastated by the turn of events" and calling the situation "agonising".
According to The New York Post, he has been quietly assisting a wind-down of the business.
Belford fired 2,700 employees on November 21 at furniture factories in Mississippi, North Carolina, and California in the US."Only very recently did I learn just how dire the situation had become, how limited the companys options were," he told a local publication."Unfortunately, the reality of UFIs circumstances was brought to the boards attention far too late," he was quoted as saying.
The companys lenders, including Wells Fargo, are spearheading the bulk of the shutdown, returning trucks and equipment to vendors and paying for security to protect these assets, according to the report.Its not clear whether UFI will file for bankruptcy.
Some employees have signed onto lawsuits alleging that UFI violated labor laws by firing them without 60 days notice, the report mentioned.na/vd #Furniture #fired #move David #New York #New York #San Francisco #Cisco #Ford.
Latest News
Download App
Channels
HomeEnglish NewsTeluguStop Exclusive StoriesFlash/Breaking NewsTrending NewsPoliticalMovieHealth TipsCrime NewsMovie ReviewsNRI NewsViral VideosBhakthi/DevotionalPress ReleasesViral StoriesQuotesPhoto TalksBaby Boy NamesBaby Girl NamesCelebrity ProfilesFollow Us!
Contact Us!
TeluguStop.com Media, Siya Residency, Sri Sri Circle, Khammam, Telangana- 507002info@telugustop.comPh No : 999-279-9973
About Us!
About UsJobsAdvertisingDMCA / RemovalTerms of UsePrivacy Policy