Tervis, a drinkware company based in Florida has filed for bankruptcy due to significant financial challenges. The company has faced tough market competition in recent years, as various other drinkware companies, such as Stanley and Yeti have become popular. Tervis filed for Chapter 11 bankruptcy, and the company will be making several changes to the company structure, and this could result in layoffs. The company currently owes five million dollars to its main creditor. The company sold its factory last year and is planning on reducing employee payroll by 100 thousand dollars. Based on these changes, it is a likely possibility that various Tervis workers will be laid off.
See "Tervis files for Chapter 11 bankruptcy, workers may be hit with layoffs", Heather Bushman, Sarasota Herald-Tribune, September 9, 2024