- Associated Press - Thursday, September 3, 2015

STURGEON BAY, Wis. (AP) - Luxury boat maker Palmer Johnson Yachts is closing its two facilities in Sturgeon Bay, putting 100 employees out of jobs.

The company notified the employees Wednesday it will start letting them go Oct. 31 and expects to fully close the facilities by the end of the year, though it’s looking for ways to continue operating.

WLUK-TV reports (https://bit.ly/1hWNIWN ) the company has been in Sturgeon Bay for decades, building its first yacht 89 years ago.

Palmer Johnson owner Timur Mohammed told employees the shutdown is necessary because sales have diminished while foreign competitive pressures have escalated.

The announcement comes a little more than a year after Palmer Johnson unveiled a multi-million dollar 150-foot yacht, and also announced that it had signed more yacht contracts and planned to hire more workers.



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Information from: WLUK-TV, https://www.fox11online.com

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