Valentine’s Day might look a little different next year. The plant that manufacturers Sweethearts candy closed suddenly last week. Round Hill Investments, LLC abruptly shut down the New England Confectionery Company, or Necco, plant in Revere, Massachusetts. Necco has been the oldest continuously operating candy company in the United States. In addition to the beloved Sweethearts candy, the company also makes Mary Jane and Squirrel Nut Zippers candy, among others.
Round Hill Investments, LLC is owned by billionaire C. Dean Metropolous. Round Hill bought Necco out of bankruptcy in May for $17.3 billion. At the time of closing the plant, Round Hill also announced that it had sold the recently acquired company. “Round Hill Investments was very excited to acquire Necco’s historic brands and to be part of their national resurgence,” the company said. “After careful engagement and consideration, however, the firm decided to sell the brands to another national confection manufacturer and today announced the closure of the operations in Revere, Massachusetts.” It is unclear whether the unnamed company will continue to produce the candy that Necco was known for.
The mayor of Revere, Brian Arrigo, said in a statement, “We are disappointed that Round Hill could not follow through on the enthusiasm it expressed when it acquired Necco barely two months ago.” The mayor also said that he was disappointed that the city of Revere received no advance warning of the closing. The closure of the plant also came as a surprise to the close to 230 workers at Necco. The workers said they were told to pick up their final paychecks at the end of the week. Arrigo, the mayor, said he was encouraged that multiple private food service companies had expressed interest in interviewing the formers Necco factory workers. “We are gratified, certainly, that the private sector is in a position to help these workers,” said Arrigo. “But that doesn’t lessen our exasperation with the way Round Hill went about the process.”
Unfortunately, the closure of an employer or loss of a job is something that puts many people in a perilous financial situation. If you are struggling financially, you do not have to suffer in silence. Please contact one of our locations nearest to you for a free, confidential consultation with one of our attorneys.
Kathryn Davis is an attorney at the Bond & Botes Law Offices in Huntsville and Decatur, Alabama. She holds a Bachelor of Arts from Auburn University, and a Juris Doctorate from Samford University, Cumberland School of Law. She is passionate about utilizing the bankruptcy process to help clients navigate through what is usually some of the lowest points in their lives. Read her full bio here.