Portland's Schoolhouse: A Sudden Goodbye

Schoolhouse, a beloved home decor store in Portland, just said goodbye to most of its workers. This news comes after a long time of money troubles at its parent company, Food52. Food52, based in New York, bought Schoolhouse a few years ago for a big sum. But now, things are not looking good. In a quick Zoom meeting, Food52 told everyone the bad news. They did not say exactly how many people lost their jobs. But they did say that about 75% of the workers are now gone. Most of these were from Schoolhouse. A few people are still working, like those in the union who make the products.Food52 said this is not about the workers. It is about money. They are trying to sell the company, but that is not going well. The bank that lends them money stopped supporting them. This means they have no money for daily work. So, they had to let go of many workers to save money. This is not the first time Food52 has had problems. A few months ago, they cut 40% of their workers. They also sold the building where Schoolhouse is. Now, they are trying to fulfill orders, but it is unclear what will happen next. Workers were shocked. They thought they would hear about the sale, not about losing their jobs. The boss said banks froze their accounts because they could not pay their bills. This is a big problem for the company.