Coupon Book Entertainment Shuts Down HQ in Troy
Employees given no notice, told Tuesday morning that ownership filed for bankruptcy.
The company behind the popular Entertainment coupon books has filed for bankruptcy and on Tuesday closed its headquarters in Troy, laying off hundreds of employees.
A former employee confirmed with Patch on Tuesday that after showing up for work, she was told by management the company had filed for Chapter 7 bankruptcy. A report on Click on Detroit indicates the company had closed two other facilities without notice.
According to a filing with the state Workforce Development Agency, Entertainment Promotions laid off 369 full-time staff and 298 part-time staff. Of the affected employees, 187 full-timers and 38 part-timers worked in Troy.
It was founded in 1962, and owned by M.H. Equity Investors in Indianapolis.
The company offered coupon books, which are sold by schools, community and charity groups as fundraisers.