Company officials have confirmed that Wednesday, January 16, was the manufacturer’s last day of operations.
“I’ve been faced with releasing all of our employees,” a company representative who asked to remain anonymous told Window Film. “This was very unexpected.”
According to the FTI employee, the company had signed a letter of intent to sell to fellow window film manufacturer—HanitaTEK in New Berlin, Wis. An FTI representative says HanitaTEK later pulled out of the deal, prompting the company’s immediate closure.
“… they pulled out at the last minute and we just could not revive anything … or any other options,” FTI’s representative told Window Film. “We’re still kind of reeling from this …”
When asked if his company had entered into negotiations with FTI, Lloyd Brown, president of HanitaTEK refrained from specific comment.
“I mean, I think at the end of the day, every company that’s struggling and getting to the point of going out of business tries to explore every option,” Brown said. “But it wouldn’t be appropriate for me to give any particulars of that.”
“That’s a shame,” Brown added. “SUN-GARD is a brand that’s been out there for a long time and it’s too bad to see it disappear.”
FTI was founded in 1975 as ITD Industries. It was an emotional day as the company notified its employees, many with as much as 25 years in service, of its decision.