26 workers at Forman Mills’ Wyncote location may be keeping their jobs due to discount retailer Shoppers World’s last-hour purchase of the financially struggling company.

A Department of Labor & Industry WARN notice filed by Forman Mills on June 12 announced that seven stores in Philadelphia, Montgomery, Lehigh and Delaware counties were at risk of closing in August. In total, 245 workers would have been laid off.

In an article titled “Forman Mills warns of store closures, bankruptcy amid search for buyer”, the Philadelphia Business Journal reported on Thursday reported that Forman Mills expected to file for bankruptcy protection and start closing stores unless a buyer came along.

On Friday, PBJ’s article “Shoppers World acquires Forman Mills, plans to keep all stores open” followed up with good news for workers of the home goods, apparel and footwear store.

“We’re pleased to be joining a company with such longevity, strong community roots and financial stability,” said Mike Kvitko, CEO of Forman Mills.

From WHYY’s article:

Forman Mills has deep roots in Philadelphia and was founded in 1985 by Richard Forman.

In 2016, he sold the retail business with 3,000 employees and dozens of stores to Goode Partners, a private equity firm in New York City. The firm borrowed $32.5 million to support the equity investment it made in Forman Mills.

The Wyncote location opened in 2019 in Cedarbrook Plaza, 1000 Easton Road.

For more on Forman Mills, you can visit their Wyncote Facebook page or click here for their main website. For more on Shoppers World, you can visit their website.

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