Architectural Record is reporting that architecture and engineering firm Cubellis has closed — announcing the closure to its employees the day before Thanksgiving. The 23 year-old firm, which is headquartered in Boston, Massachusetts, has 12 offices world-wide, including one in Dubai. The immediate cause of the closure was Sovereign Bank’s denial of a key line of credit, which made the firm unable to pay the salaries of its 170 employees, according founder Len Cubellis in the Boston Business Journal, the first to report the news.
Our thoughts go out to all affected by this sudden and shocking news.
One Comment
These banks were given ton’s of monies why? To give to small Co’s to stay in business. It’s time to boycot these banks pull your money make your statement, we kept (our tax dollars and future tax dollars)them in business, it’s time to rip them a new one I would be more graphic but what is the point Banks don’t care!!!!!!
My heart goes out to them all.