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November 9, 2007
Jays Foods has notified workers at its plant on Chicago's Southeast Side and at a facility in Lemont that both could close, resulting in the loss of more than 500 jobs.
In a filing with the state, Jays cited an "inability to obtain financing" as the reason for the possible closure of the Chicago plant, 825 E. 99th St., and a distribution center in Lemont, 11209 S. Joliet Road. The company said 406 workers in Chicago and 104 in Lemont would be affected and that layoffs could begin Dec. 10, according to a filing with the Illinois Department of Commerce and Economic Opportunity.
Jays, owned by Ubiquity Brands, filed for bankruptcy protection in October. Jays also went through bankruptcy in 2004, and at that time the Japp family - which founded Jays in 1927 - sold the business to a private equity firm.
Jays has been looking for a buyer for the company as well as a sister business, Select Snacks. A company believed to be pretzel maker Snyder's of Hanover has offered $24.8 million for Jays' assets, and an auction is scheduled for Nov. 30 at the offices of Winston & Strawn, the law firm handling the bankruptcy case for Jays. It's not certain whether Snyder's or any other potential buyer would continue to operate Jays' local facilities.
Officials at Jays and Chicago-based Ubiquity did not return calls Thursday seeking comment.
In September, Ubiquity sold its Lincoln Snacks business to ConAgra Foods. Lincoln makes Fiddle Faddle and Poppycock popcorn snacks.
Ubiquity is the name of the umbrella company created by Chicago-based Willis Stein to operate Jays and Lincoln. Three years ago, Willis Stein paid approximately $26 million for Jays, which the Japp family first had sold in 1986 to Borden Inc., then bought back in 1994.
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