In a notice to the Wisconsin Department of Workforce Development and the Village of Pulaski, Marquis said it will need to shutter its Pulaski location while it searches for a new owner for the manufacturer.
“The company has been actively engaged with a couple of potential buyers and other stakeholders to negotiate a sale of the company with the goal to shore up long-term financing to permit continued operations,” Marquis Yachts CEO Rob Parmentier said in a letter to the state and village.
Parmentier continued the Pulaski facility will be closed “for an undetermined period of time” if a buyer cannot be found by March 1. Employees learned Tuesday about the potential layoff and closure.
Marquis Yacht previously reported that the tariff wars with China, Europe, Mexico and Canada have been tough on business because orders have dropped while the price of building materials rose 40 percent.
Marquis Yachts did not give the required 60 days’ notice to the state because a potential buyer unexpectedly withdrew its purchase offer. Under the state’s Business Closing and Mass Layoff Law, employees are eligible for back pay and benefits for every day notice was required, but not provided. For Marquis workers, that’s 29 days of back pay if the plant does close March 1.