A defense manufacturer in Bellport has closed its doors after running out of cash.
The Labor Department lists the company as Tactronics Holdings International Llc, in a WARN notice, which companies are required to file in connection with a mass layoff or closing. The Worker Adjustment and Retraining Notification Act notice, or WARN, said the company closed on June 2 and that 62 workers were affected.
The trustee, Douglas Pick of Pick & Zabicki in Manhattan is negotiating an asset sale. But he said that two companies with slightly different names are involved: Tactronics Holdings Llc, most likely the parent company, and Tactronics Group International, the business that manufactured electronic equipment and systems for the defense and commercial sectors.
Pick, who was appointed by company directors, said he “was very close to a sale of the assets.” And the buyer might retain some of the employees.
“Part of the terms we are negotiating is the retention of various employees,” he said.
He declined to say how many. A New York State Supreme court judge would have to approve the sale, he said.
Tactronics Holdings had been on Long Island since 1992. At one point it focused on networks and equipment used in covert military operations. In 2008, it moved from Westhampton Beach to Bellport, where a 24,000-square-foot facility doubled its manufacturing space.
Read more of Inside Long Island Business