TMP Directional Marketing LLC plans to shut down its operations if it can’t find a buyer for the business, leaving 167 jobs at its Milwaukee office in jeopardy.
“The impact of the drastic and unprecedented economic downtown in the United States has been especially difficult for the company’s business and the company is dealing with significant debt obligations,” TMP stated in a mass layoff notice filed late Thursday with the Wisconsin Department of Workforce Development.
New York City-based TMP has an office at 7800 W. Brown Deer Road, on Milwaukee’s northwest side. The company is an interactive search marketing and Yellow Pages advertising agency.
The company will be forced to sell its business or “wind down” operations due to an anticipated lack of operating capital, according to the notice.
TMP management stated in the filing that it has been pursuing additional sources of liquidity and exploring a potential sale of the company.
From: Biz Journals