FORT WAYNE, Ind. (Inside Indiana Business) – Michigan-based Genova Products Inc. is closing two facilities in Indiana. The plumbing supply company is terminating all of its employees at the two plants in what it expects to be a permanent closure, affecting 116 jobs at its Fort Wayne location and 89 in Rensselaer.
In a notice to the state, the company said the closures are due to economic challenges and the failure to find a strategic partner. The company has defaulted on its loans and is not able to secure further funding for its operations. Genova made an effort to find a partner to buy its assets and has not been successful.
The company says the closings will take place between Jan. 28 and Feb. 10.