BLUE BELL ANNOUNCES THAT A “SIGNIFICANT INVESTMENT” IS NEEDED TO KEEP OPERATING
Blue Bell Creameries announced on Tuesday that Sid Bass, a prominent Texas businessman would make a large investment in the company in hopes of being able to start making test batches of ice cream again.
According to a company spokesperson, the “significant investment” would need to be close to $125 million dollars to keep the company afloat and avoid a shutdown.
Blue Bell would not say if Bass has invested in the company before, but Bass comes from a family worth 1.7 billion dollars, according to Forbes Magazine.
Blue Bell has had to lay off 1,450 employees, which is more than one-third of its work force and furloughed another 1400 since a Listeria outbreak forced the company to shut down the company in April, the first in the company’s 108 year history.
Last week, the company said it would begin a test production at its Alabama plant, although an exact date was not given.
108 years of operation and they close down for 4 months then its gonna take 125 mil to keep from closing for good . those numbers just dont seem to make sense to me.
I believe Forbes says Sid Bass alone is worth the 1.7 billion. The brothers are worth even more.
This is good news to the furloughed employees. Thanks to Mr. Bass and his other unnamed investors for helping out. New faces on the board of directors and a fresh start. Still, one has to wonder why all the various local private stockholders refused the majority stockholders request for funding, forcing them to look elsewhere. Do they know something we don’t, maybe. But seeing Bluebell on the shelf again will be a delightful site to many, so best of luck and a bright future.
They didn’t.