Hundreds of families connected to a bankrupt West Chester company worried for months about possible lost jobs.
An answer recently arrived when Salt Lake City, Utah-based Visible Supply Chain Management, which provides shipping and fulfillment services for small to midsize businesses, announced it would purchase the assets of West Chester-based TradeGlobal out of bankruptcy and continue operating the business.
The process of transitioning to new ownership is ongoing, and is likely to take about another month, a VSCM spokesman told this news outlet Thursday.
TradeGlobal, which specializes in online retail solutions, filed for bankruptcy protection in September after its debt burden became unserviceable. It joins the Visible family of companies and will adopt the parent company name.
The acquisition protects more than 350 local jobs because Visible is retaining those positions for the new Visible operation going forward, company officials said. Members of TradeGlobal’s leadership team will remain with the company to ensure continuity for customers, vendors and employees.
“This is wonderful news for the hundreds of families who faced uncertainty regarding their employment and livelihood,” said West Chester Administrator Larry Burks. “West Chester looks forward to getting to know and work with Visible Supply Chain Management as they settle into the community and wish them great future success here.”
As an end-to-end e-commerce solutions provider, TradeGlobal has served its customers for years with services including fulfillment, logistics and other supply chain and e-commerce functions. The company’s Ohio location creates synergies for new and existing business customers, as well as new markets for Visible.
“Because our focus is always on our customer’s business success, expanding our capabilities to Ohio and beyond means we are creating new possibilities for our clients,” said Casey Adams, president of Visible. “We’ve been interested in TradeGlobal’s excellent client base and track record of success with high SKU e-commence fulfillment for nearly a year but were unable to move forward given its difficult financial situation.”
The acquisition of TradeGlobal follows Visible winning multiple industry and business awards in 2019 including the No. 919 spot on the Inc 5000, Utah’s 3rd Fastest Growing Company on the Utah Business Magazine Fast 50 List, the No. 10 spot on the MountainWest Capital Network 2019 Top Revenue Growth Companies, the regional EY ‘Entrepreneur of the Year’ award in distribution and manufacturing and inclusion as a national finalist in the EY Entrepreneur of the Year Awards.
“Visible continually seeks opportunities to grow in ways that increase our value to our customers,” said Jared Starling, CEO of Visible. “We are especially excited to work with the highly qualified Trade Global team. They will be integral to our success, as well as ensuring a seamless transition.”
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