January 5, 1999
Town & Country Lays Off 260 Employees
Town & Country Fine Jewelry Group, the jewelry manufacturer in Chelsea, MA, yesterday fired 260 U.S. employees, about 75% of its workforce. In a statement, the firm blamed weak sales during its fall season.
Town & Country employed 350 workers in the U.S. and about 800 worldwide. The terminated employees worked in the Chelsea, New York City and Dallas, TX, locations. The company also has operations in Hong Kong and Thailand. The firm filed for Chapter 11 bankruptcy protection on Nov. 17, 1997.
- by Michael Thompson