Old Dominion Peanut Company to close its manufacturing facility
Old Dominion Peanut Company has announced its intention to close its manufacturing facility in Norfolk, Virginia. As a result of a six-month analysis of the company's current operations and future needs of its customers, the decision comes in the wake of the neighborhood in transition from manufacturing and warehousing, to retail and upscale residential apartments, higher operating costs, and the lack of efficiencies operating out of multiple buildings.
"Business decisions that directly impact our employees are extremely difficult," said Andrew Schuman, president and chief executive officer of Hammond's Brands. "Old Dominion has operated in Norfolk for over 100 years and we have employees that have been with us for nearly 40 years. The plant closure does not reflect the end of the Old Dominion Peanut Company, rather it marks the beginning of the next chapter of our business operations for long-term health."