Two weeks ago we reported that Mooney International had furloughed 229 employees, or about three-quarters of its workforce. While Mooney never gave an official explanation for the layoff, it was widely speculated, including by us, that slow sales and a dim forecast for increasing them was the obvious explanation.
This week we got news on that front, and it’s reason for optimism. The company announced late last week that it had recalled all of its workers from furlough. The local paper, the Kerrville Daily Times, reported that Mooney exec Devan Burns said that the company is in negotiations with “an additional investor,” though he, for obvious reasons, declined to name said investor.
Just what this means to the company’s future is hard to say, as additional investment, while certainly good for workers and Mooney lovers, won’t do much to change the sluggish sales picture that we all assumed led to Mooney closing down the factory in the first place.
This is an unfolding story. We’ll keep you updated as more details emerge.
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