PAINESVILLE, Ohio - More than 300 people lost their jobs on Friday as Core Systems, LLC in Painesville closed its doors for good.
The company stopped production at about 8:30 a.m. because of financing issues for Wells Fargo Bank, human resource manager Cindy Hutchison said.
The company manufactures plastic parts for appliances. Company president Bill Loebbaka said Core Systems was unable to pay the bank because of money it didn't receive from a major appliance company.
"Whirlpool gave us no notice and pulled about $35 million to $40 million dollars of work out of our plant," he said.
Loebbaka said he laid off nearly 350 employees today.
"I went to 300 funerals today, almost 350," he said. "All of them were friends and family."