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Schwebel Baking Co. to wind down operations, liquidate its business
WPXI • • business
Key Points:
- Schwebel Baking Co., a Youngstown-based bakery founded in 1906, announced it will wind down operations and liquidate its business, affecting its bakeries, retail stores, and distribution centers in Ohio, Pennsylvania, and New York.
- The company plans to continue operations through the Fourth of July weekend before gradually ceasing activity over the summer.
- CEO Steve Cooper cited aging facilities, labor obligations, decreased demand, and unsuccessful efforts to secure a buyer or investment as reasons for liquidation.
- Despite extensive attempts to find financing or strategic alternatives, Schwebel's was unable to establish a sustainable path forward.
- The company expressed gratitude to its employees, customers, partners, and communities for their support throughout its 120-year history.
