Spinrite is closing both its manufacturing facility and retail store in North Perth.
The Listowel-based company’s closure in July will affect 140 employees.
North Perth CAO Kriss Snell described the news as “shocking” with a “significant impact on individuals, families, and the broader community.”
“It is certainly impactful for the 140 (people losing jobs),” Snell told MyStratfordNow.
“Certainly we are trying to support members of our community that have lost jobs.”
Spinrite was formed in 1952 in Listowel by founder David Hay.
It is largest marketer of craft yarns and consumer sewing thread in North America, according to its website.
“Devastating to lose a good corporate citizen who has been in our community for over 70 years,” Snell said.
Spinrite officials have committed to helping employees with transition supports and severance pay, adding that some of the administrative, marketing, and sales roles will remain in North Perth.
Mayor Todd Kasenberg said the municipality will be assertive in supporting those affected and the municipality continues to work to bolster its economic base.
