Midwest Perishable Industries Inc. (MPI) has announced the permanent closure of its facility at 4850 Helgesen Drive, Madison, resulting in the termination of approximately 50 employees, according to a notice filed with the Wisconsin Department of Workforce Development. Layoffs were scheduled to begin April 2, with full closure of the facility expected no later than April 16.
The closure was prompted by the company’s inability to secure a new line of credit from its primary lender, which significantly reduced funding and made it difficult to recover debts. Efforts to sell the company as a going concern were also unsuccessful.
The company cited unforeseen business circumstances and the faltering business exception under the Wisconsin Business Closing and Mass Layoff (WBCML) law and the federal Worker Adjustment and Retraining Notification (WARN) Act as reasons for the timing of the notice.
