A distribution company has shut down its central Greenville headquarters, eliminating 140 jobs.
WYNIT’s announcement Friday came without warning and happened less than two years after the company relocated to Greenville from Syracuse, New York. The group is shutting down its distribution operations to focus on other areas.
In a statement, the company’s CEO Peter Richichi blamed, “unexpected financial issues combined with a disappointing holiday selling season.” WYNIT wholesale distributes products from tech companies, including Fitbit, Microsoft and Hewlett-Packard, to larger retailers such as Walmart.
“This is not what we wanted or expected,” Richichi continued. “Unfortunately, we were unable to adjust fast enough to unforeseen changes. This was purely a financial decision. Our hope is we emerge a better company.”
The company said it plans to keep its printing and supply chain operations at two Minnesota locations.