Four companies to shut down by end of year in Metro Richmond - NBC12 - WWBT - Richmond, VA News On Your Side

Four companies to shut down by end of year in Metro Richmond

RICHMOND, VA (WWBT) - The job picture in metro Richmond is not looking good.

Four companies, in the last two months, announced they are closing up shop and laying off workers by the end of the year. Which means- hundreds of people in the Richmond area will soon be looking for work.

Quad Graphics prints magazines and catalogs. The company is shutting down its Henrico County operations mid-December.

Berry Plastics is following suit in January- closing its East Port location, laying off well over a hundred. Duro Bag Manufacturing will close its Richmond plant on December 30th. ARL Richmond Management will also shut down mid October. In all-- the region is losing another 488 jobs in two months.

"Well it's not surprising obviously because the economy's been bad for 3 years now," said David Urban. 

David Urban is the executive associate dean for VCU's School of Business. He says we often hear of the big companies going out of business, but he says, its these small plant closings that hurt the most.  

"When those companies start folding and closing their doors. It really, really makes a difference, because the opportunity for really big manufacturers to come in and sort of save the day for any region are very very limited," he explained. 

The jobless rate for metro Richmond was at 7.3% in September. These latest closings probably won't show up until we get the November or December figures.

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