Solo Cup Planning Plant Closings
Lake Forest-based Solo Cup Company is planning plant closings in the near future, according to a report in Crain's Chicago Business. Although it is unknown which of Solo's 12 U.S. plants will be shuttered, it is expected that the move will cost between $113 million and $133 million, including $4 to $6 million in severance payments, $17 to $20 million in equipment-related expenses, and $4 to $6 million in post-closure lease payments, the company said in an SEC filing. Solo has facilities in Chicago and Urbana, as well as a distribution center in University Park. The disposable plates, cups and flatware company has struggled since buying competitor Sweetheart, and has reported losses since the economic crisis of 2008.