Hazleton, Pennsylvania-based DBi (DeAngelo Brothers Incorporated) Services, an asset management, and infrastructure services provider to public and private entities, abruptly closed leaving 1,500 employees without jobs.
According to a statement published on the company's website...
"DBi Services today confirmed that due to continued operating and financial challenges, and sudden and unexpected setbacks, particularly the decision of its primary lender to discontinue all funding, the Company determined that a wind-down of substantially all of its business is necessary at this time.
Macroeconomic forces as a result of the COVID-19 pandemic, including supply chain disruptions, higher material costs, and the labor shortage, coupled with increased financial requirements from sureties and lenders, impeded the Company’s ability to successfully execute and finance its projects.
The Company explored every viable alternative to avoid this outcome, working together with its outside advisors, investors, lenders, and sureties to try to identify a resolution to address the issues at hand and enable the Company to move forward.
The Company’s Digital Traffic Systems, Inc. subsidiary, which has not experienced the same challenges, is continuing to operate and serve customers.
DBi Services deeply regrets the impact on its valued employees, customers, suppliers, and partners, and is working diligently to manage as smooth a transition as possible."
Many employees were in denial, not believing a company with a 40-year history and operated nationally with 45 locations could simply shut the doors. The phrase, "effective immediately" and delivered prior to the weekend caught employees by surprise and left them wondering what to do with company equipment, including cars and computers, in their possession.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
