YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
An acquisition deal involving two companies with headquarters outside of Springfield will have an impact on a magazine depot that does business in the northwest part of the city.
Smyrna, Georgia-based American News Co. LLC announced last month plans to buy Jefferson City-based Cowley Distributing Inc.’s wholesale magazine and book distribution business. The purchase, which has since been finalized, may lead to layoffs in Springfield, though the extent of those cuts is unclear.
In an Oct. 29 Worker Adjustment and Retraining Notification Act notice filed with the state, Cowley Distributing officials said the company’s 16 employees at 2650 N. Westgate Ave., Ste. 100, would be terminated on Dec. 31. The majority of the affected positions are drivers and merchandisers. The WARN notice indicates ANC plans to hire some former Cowley Distributing employees on Jan. 1, 2020.
Cowley Distributing spokesman Jared Cowley this morning told Springfield Business Journal ANC renewed the lease for the Westgate Avenue depot, which delivers magazines and books around the Springfield metropolitan area.
“We anticipate them keeping the depot open,” Cowley said via email, declining to say if any employees have been offered jobs with ANC.
Cowley Distributing’s WARN notice also announced layoffs in Cape Girardeau, Jefferson City and Maryland Heights. Similarly, ANC may hire back some employees at those facilities.
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