Future Of Necco Wafer In Jeopardy After Surprising Factory Shutdown
The fate of a beloved New England-made chalky candy is once again unclear as the brand’s new owner abruptly shut down manufacturing at its Revere, Massachusetts, warehouse Tuesday.
Round Hill Investments bought the New England Confectionery Co., better known as Necco, at a bankruptcy auction for $17.3M in May. Round Hill told employees at the Revere plant it was selling the brand to another national confectionery company and was closing the local operation effective immediately. Round Hill did not announce who the new owner was, the Boston Globe reports.
Hundreds of Necco employees were surprised by the news, as the brand behind the popular Necco Wafer was expected to keep manufacturing at least through November when the lease on the Revere warehouse was set to expire. Workers were told to not return to work the rest of the week except to pick up their final paycheck on Friday.
Necco filed for bankruptcy protection in April. The Round Hill purchase came after a deal with the original winner at auction, Spangler Candy Co., fell through. Necco has been in business since 1847.
