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Vaughan, known for their USA-made hammers and other striking tools, has been in the news recently, with reports of a pending closure.
A reader (thank you Stuart_T) wrote in:
150-Year-Old Vaughan Plant Closing after Nixed Buyout
Local media cited financial troubles leading to buyer backing out of purchasing the hand tool maker’s Bushnell, IL plant……Local ABC news station KHQA7 (Quincy, IL) reported April 11 that Vaughan & Bushnell Mfg. Co. — a manufacturer of hammers, axes, prybars and hand saws — will close its Bushnell, IL factory doors for good at an unannounced date…
Here’s what we know:
A local news channel reported (source) that Vaughan, officially Vaughan and Bushnell, “announced it will be closing its doors at an unannounced date.”
I have not seen and could not find this announcement.
That the local news report says that Vaughan “will be closing its doors,” seems to suggest the company is closing or shutting down.
KHQA added that the closure follows “a failed buyout” by Marshalltown manufacturing.
MDM (Modern Distribution Management) also wrote a story about the news (source), saying that Vaughan’s 150-year-old “tool plant is reportedly set to close.”
WGEM, another news channel in Illinois (source), suggests that the entire Vaughan business is in jeopardy.
According to WGEM, there will be a job fair on April 17th, “strictly for Vaughan employees.”
The plant in question was reportedly being sold for $5 million before Marshalltown backed out.
WGEM provided more context about the failed buyout, saying that Marshalltown was unable to contribute the full amount required to purchase the plant.
Marshalltown marketing told WGEM news that, regarding their purchase of the Vaughan plant, “the timing just wasn’t quite right.”
According to the reports, 130 jobs will be affected by the closure.
Uncertainty
From the reports, if they’re accurate, it’s unclear if Vaughan is closing their main factory, or if Vaughan is closing and shuttering their factory along with it.
I could not find any announcement, or any WARN notice, which would be required for a mass layoff.
I made several calls to Vaughan but was unable to connect with anyone who could confirm these reports or provide clarity. I emailed several people at the company and have not heard back yet.
What Could this Mean?
There are lots of questions that we don’t have answers to.
Is Vaughan shutting down USA manufacturing? In part or entirety?
Is Vaughan closing?
Can the brand close their factory and continue to exist?
Are they still looking for buyers? Why did Marshalltown back out?
An increasing number of long-time USA tool manufacturers have closed or been sold off in recent years.
Vaughan hasn’t confirmed or denied reports of their factory closure, but things aren’t looking optimistic.
It’s not good that news reports are talking about Vaughan closing down “at an unannounced date,” and even worse that nobody at the company has since come out to say “no – we’re all good here.”
I also couldn’t confirm that there will be a job fair exclusively for Vaughan employees and factory workers, as the Bushnell Recreation Center doesn’t have a public page or calendar.
At this time we don’t have all the facts, but things aren’t looking good.
