April 30, 2020
Crane Stationery remains an operational business
In correction to a news article published elsewhere, Crane Stationery is not going out of business. The company has sustained a shutdown since March 18, creating challenges that necessitated significant adjustments to its business operations.
A Federal PPP Loan has allowed Crane Stationery to put all 229 employees back on the payroll with benefits as of May 4, following a six-week period during which many experienced some period of furlough. “We announced to employees yesterday in a company-wide communication that operations as we know them will be changing, and that as of June 19th they would be laid off from Crane. We have identified approximately 15% of the workforce who will continue in their employment and will continue operations of the company,” Tom O’Connor, CEO and Chairman of the Board at parent company Mohawk Paper, said in a statement.
“It has and continues to be a very challenging time for everyone. Hopefully one that we will never see again in our lifetime. This pandemic has proven to be the tipping point for us at Crane. We have worked hard to build towards the future by investing time, people and financing to grow this business. However, we need to protect the future of the company by reducing our work force to match the significant drop in business,” he continued.
With the time to economic recovery and its impact on the stationery market and wedding industry yet unknown, these changes to the business were necessary. The goal is to preserve this beloved legacy brand and ensure its survival through this global pandemic. The artisans at Crane have been key to the 220-year history of the company, and Crane will be offering every possible support to all employees during this difficult transition. “We can’t thank our employees enough for their commitment and service and will do everything we can to support them during these difficult times” said O’Connor.