Victor Forstmann Inc, which was recognized as a leading designer and manufacturer of apparel and specialty wool fabrics has announced the closure of its facility in East Dublin by the end of next month. Approximately 124 employees will be affected.
Giving reason of this closure, company officials revealed that foreign competition for the last 15 years caused this decline.
Other reasons for the closure of the Victor Forstmann Inc are that Major League Baseball, one of the biggest customers, decided to switch from wool to polyester hats and struggle to compete against low-cost producers overseas.
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