What's now known as Coyne Textile Services opened in Syracuse back in 1929. The uniform rental company thrived during the Great Depression and for years had locations across United States. But now the family-run business is shutting down. Time Warner Cable News' Alana LaFlore shows us what's behind the closure.
SYRACUSE, N.Y. -- There's about 100 employees at Coyne Textile Services in Syracuse. Some have worked there for decades -- others, only a few months.
But almost all are disappointed by its closing.
"I wasn't shocked, because I knew things had been going badly for a while," said Linda Martin, customer service coordinator at Coyne. "I'm just sad for everybody."
Back in July, Coyne Textile Services declared Chapter 11 bankruptcy. Cintas bought Coyne's customer relationships and routes in several areas, including Syracuse. But the company did not buy the physical facility or real estate -- so Coyne will shut down.
"You know, there is no next user for that property," said Stephen Selbst, Coyne's attorney. "But Coyne as an operation will continue to exist. The next stop in the Coyne bankruptcy will be to sell off the remaining real estate, the remaining equipment. In terms of operations, it will cease operating as a business in Syacuse."
Employees worry that, despite severance packages, it may place a financial burden on some workers.
"There's some couples here too who both work here," said Martin.
But despite the blow of losing a historic company, workers remain hopeful.
"Everybody is sad, obviously, but most of them will rebound," said Martin.
Coyne's attorney says the transaction is expected to go through by the end of November. Until then, operations will continue at the Syracuse location. According to Selbst, Coyne urged Cintas to consider applications of Coyne employees -- but it's not required by the agreement.