Evidence of an ever weakening economy is becoming more and more apparent. Zippo, of Bradford PA, plans to close it’s doors for a week starting May 21, and lasting through May 29.
Zippo has always been the pride and joy of Bradford, with a quality product, and a quality workforce. The recent downturn in the economy has more than likely turned investors and consumers away from the collecter/high quality market. Imitation Zippo’s are being made in China at a fraction of the cost to consumers, and Zippo doesn’t seem to be able to compete.
Greg Booth, president and CEO at Zippo, stated “Despite the fact that sales in the U.S. domestic market remain solid, they are not strong enough to offset the sales declines in some of our international markets.” He also stated that Zippo is still a very strong company and is “aggressively pursuing new sales opportunities with existing companies and many new customers in emerging markets”.
Many people believe that this is mainly to keep the employees, as well as the residents of Bradford calm. A permanent shutdown of Zippo is predicted by a good part of the population of Bradford. Zippo has already cancelled its annual “swap meet”. This event brought hundreds of tourists to Bradford each year. All businesses are going to feel the effects of this. Also cancelled was a themed music festival.
For Bradford, a permanant shutdown of Zippo will more than likely cause the city’s demise. If Zippo goes, Case probably won’t be far behind it. Where are all the employees supposed to go when they no longer work for Zippo? Graham Packaging, Bradford Forest Products, Allegany Store Fixtures? All three of these businesses were struggling before the recession, and all have had major layoffs.
