SPRINGFIELD, Vt. (AP) - The Vermont Labor Department is helping about 30 workers fired from a company with a plant in Springfield that makes in-store displays for the retail industry.
The Eagle-Times reports (https://bit.ly/1oSXPJG) former employees with G3K Displays Inc. met Wednesday with the department after learning the company was in a dire financial condition and was forced to discontinue production. At least 25 workers have filed wage claims with the state.
G3K, which operates the former Kiosko LLC business of North Springfield, was recently named in a New Jersey lawsuit filed by MVC Capital Inc., a private debt and equity investment venture, after the firms agreed to a $10 million loan.
MVC alleges G3K fraudulently misrepresented its financial records to secure financing. The New Jersey Superior Court ordered all G3K operations suspended.
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Information from: Eagle Times, https://www.eagletimes.com
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