Woolrich has announced that it will be closing its ancient wool mill in Woolrich, Pennsylvania. The mill dates back to 1845, and is currently the oldest continuously operated mill in the U.S. The fabric manufacturing operations will cease by Jan. 1, affecting up to 40 jobs. The company said that the facility is no longer economically feasible because of higher manufacturing costs, eroding margins and continued unprofitability within the mill. The decision was made by Woolrich International, in concert with L-GAM Advisors, the Luxembourg-based private equity firm that bought a majority stake in the company in September.
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