Palmer Johnson to close down in Sturgeon Bay
Sturgeon Bay – via Fox 11 Online
Palmer Johnson, a manufacturer of luxury yachts, is closing its two facilities in Sturgeon Bay. The company has issued a Press Release announcing the closure
The company sent a letter to employees Wednesday telling them they’ll soon be out of a job. The company has been in Sturgeon Bay for decades, building its first yacht 89 years ago.
The closure will put 100 employees out of a job. Palmer Johnson will start letting employees go October 31st and expects to be fully closed by the end of the year.
In a letter to employees, Palmer Johnson owner Timur Mohammed wrote “operation and employment levels have continued to diminish, sales have diminished, offshore competitive pressures have escalated, and as a result this becomes a necessity.”
The closure comes a little more than a year after Palmer Johnson unveiled a multi-million dollar 150-foot yacht. The company’s president called it an example of buyer confidence in the market.
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