BLOOMINGTON, Ind. (AP) - A southern Indiana company that supplied limestone to the Empire State Building, the Pentagon and other iconic buildings is going out of business and laying off its 166 workers.
Bloomington-based Indiana Limestone Co. Inc. notified the Indiana Department of Workforce Development that it would close “its entire operations and permanently lay off its entire workforce as the result of pending bankruptcy proceedings and the possible sale of the assets of the company,” The Indianapolis Business Journal reported Tuesday (https://bit.ly/1hPBpK7 ).
The notice, dated Feb. 21, was posted online by the state Monday.
The company - which also supplied limestone for the National Cathedral in Washington, D.C., and 35 state capitol buildings - said the closing will occur during a 14-day period ending May 11 and involve employees in Bloomington and nearby Oolitic.
Resilience Capital Partners, a private equity firm based in Cleveland, acquired Indiana Limestone from Columbus-based Johnson Ventures in 2010 for an undisclosed amount. Resilience merged the 88-year-old company with Victor Oolitic Stone Co., which it acquired in 2009.
The company has struggled with debt since the merger and owes creditors tens of millions of dollars, the Journal reported.
About half of Indiana Limestone’s employees are represented by one of four unions: the Laborers International Union of North America, the International Brotherhood of Carpenters and Joiners of America, the International Association of Machinists and Aerospace Workers, and the Journeymen Stonecutters Association of Indiana.
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