Post by Logan on Feb 17, 2016 2:52:09 GMT -6
A Port Huron business that has been around for 70 years said it expects to close because of a pension dispute with a union.
Port Huron Building Supply is being sued for more than $2 million in federal court in Illinois over its alleged failure to contribute enough money to the Teamsters Central States Pension Fund.
An attorney for the company, Gary Fletcher, tells the Times Herald of Port Huron that the litigation is forcing Port Huron Building Supply to close by the end of March. Signs say, “Everything must be sold!”
A judge ruled Tuesday in favor of the pension fund on the issue of liability, but it’s unclear how much money ultimately will be paid, said Tom Nyhan, the fund’s executive director.
Read more: www.freep.com/story/money/business/2016/02/16/pension-funds-dispute-threatens-longtime-business/80485652/
Port Huron Building Supply is being sued for more than $2 million in federal court in Illinois over its alleged failure to contribute enough money to the Teamsters Central States Pension Fund.
An attorney for the company, Gary Fletcher, tells the Times Herald of Port Huron that the litigation is forcing Port Huron Building Supply to close by the end of March. Signs say, “Everything must be sold!”
A judge ruled Tuesday in favor of the pension fund on the issue of liability, but it’s unclear how much money ultimately will be paid, said Tom Nyhan, the fund’s executive director.
Read more: www.freep.com/story/money/business/2016/02/16/pension-funds-dispute-threatens-longtime-business/80485652/