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BRATTLEBORO â State and local officials are mobilizing efforts to stave off the negative impact of Koffee Kupâs decision to shutter its Vermont operations, including the closure of its Brattleboro subsidiary, Vermont Bread Company, that eliminated more than 90 local jobs.
The closures were announced suddenly on Monday.
According to a Tuesday news release from Dorset Partners, which specializes in âturnaround management and acquisitions,â Koffee Kup had been struggling to make ends meet for the past four years.
âFor each of the last four years Koffee Kup has suffered substantial financial losses and was unable to find a way out of their troubles,â states the news release, which came from Jeff Sands, a âturnaroundâ specialist at Dorset Partners and the senior advisor in North America for American Industrial Acquisition Corporation, which acquired a majority of the shares of Koffee Kup on A
BRATTLEBORO â Peopleâs United Bank is being purchased for about $7.6 billion.
Last week, M&T Bank Corporation and Peopleâs United Financial Inc. announced they have entered into a definitive agreement where M&T will acquire Peopleâs United in an all-stock transaction.
âThe combined company will create a diversified, community-focused banking franchise with approximately $200 billion in assets and a network of more than 1,100 branches and over 2,000 ATMs that spans 12 states from Maine to Virginia and the District of Columbia,â states a news release. âThe combined franchise will operate across some of the most populated and attractive banking markets in the U.S. As part of the transaction, Peopleâs Unitedâs current headquarters in Bridgeport, Conn., will become the New England regional headquarters for M&T, further strengthening the combined companyâs commitment to Connecticut and the region.â
M&T buys People s United Bank benningtonbanner.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benningtonbanner.com Daily Mail and Mail on Sunday newspapers.
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The Vermont State Colleges System Board of Trustees on Monday agreed to a wholesale transformation of the system, passing a resolution to merge Northern Vermont University, Castleton University and Vermont Technical College under one accreditation by July 1, 2023.
The New England Commission of Higher Education, the regional accrediting agency for post-secondary education, will have to sign off on the plan for it to move forward.
And state government â the executive branch and the Vermont General Assembly â will be called upon to provide additional funding to make the plan work.
The plan counts on finding administrative savings through consolidation, as well as investment in information technology and a virtual library serving the entire system.
Tue, 01/12/2021 - 10:55am tim
by Fred Kenney, Executive Director, Addison County Economic Development Corp and President of the Regional Development Corporations of Vermont When COVID-19 hit, businesses and organizations across Vermont were scrambling to adapt to a new virtual and contactless world. In response to the changing economy, the Regional Development Corporations of Vermont (RDCs) worked quickly to launch the ReStart Vermont Technical Assistance Program, or ReVTA program, designed to deliver critically important technical assistance to hundreds of businesses and organizations looking to adapt business practices, retrofit space and access new technologies.
The magic behind this effort is its simplicity. The RDCs of Vermont twelve independent entities collaborated as we often do, to put the critical needs of businesses and organizations front and center in our pandemic response.