Supplier firm Barton Nelson (asi/38670) closed its doors in June. The company had recently laid off 60 employees in its Kansas City office and about 300 in its facility in Mexico.
The company’s outgoing voice message on its main phone line said: “After 53 years, BNI is being forced to close its doors by our lenders. We will not be accepting new orders and are unable to ship current orders. We are extremely sorry our lenders put us in this position. On behalf of BNI employees and the Nelson family, we thank you for your friendship and loyalty. Wishing you the very best.”
In early 2011, Advantage Capital Partners, an equity company with offices across the country, provided $5.7 million in financing to Barton Nelson. At the time, the company said the capital would be used to fund its operations and growth initiatives.
“We were struggling to maintain the business when we partnered with Advantage Capital,” Bart Nelson said at the time in an Advantage Capital newsletter. “Their willingness and ability to provide funding when conventional lenders had turned us away means that we can continue to serve our customers, meet our financial objectives, grow our business and provide stable jobs during a challenging time for the industry.”