Oneida Ltd. said in a regulatory filing with the Securities and Exchange Commission on 23 September 2004 that it will incur cash costs of USD 1.25 million related to the closing of its Sherril flatwar…
Oneida Ltd. said in a regulatory filing with the Securities and Exchange Commission on 23 September 2004 that it will incur cash costs of USD 1.25 million related to the closing of its Sherril flatware plant. The company said the costs are related to severance, incentive and retention payments to some 500 employees who will be affected by the closure. Oneida said it has not been able to make a good faith determination of the exact nature or estimated amounts of other cash exit costs related to the Sherrill factory closure, including those associated with decommissioning the factory. The closure of the Sherril factory by the 1Q 2005 was announced on 9 September 2004.