The Atlanta branch for exhibit design company Pico North America closed its doors on March 12.
The company announced their plans in mid March to have the branch file for Chapter 7 bankruptcy in the United States Court for the Northern District of Georgia, Atlanta Division. Company officials say the move will not affect the rest of the company’s North American operations.
Chicago branch general manager, James Winski, said the move was intended on making Pico’s North American holdings more sustainable and better equipped in helping its customer base, and the company didn’t anticipate any disruption of work for clients.
“This was a way of restructuring North America to be more fiscally responsible to our clients,” Winski said, “and to be able to help them to be able to succeed better.”
Though open for 12 years, the rough economy helped force the decision to close branch doors.
“Our Atlanta office has typically carried a pretty big cost structure,” Winski said. “And with the recent economy and industry changes that have just been going on for the last couple of years, to carry those costs was getting more difficult and more difficult over time.”
Factors such as more employees, facility costs and general business costs all contributed in the filing decision.
Company officials did not wish to speak on any additional details or structure of the bankruptcy as of press time.
Pico Far East Holdings Limited, parent company for Pico North America, is a global marketing company specializing in exhibition, event and other distinct businesses such as theme parks, conferences and show management. The group employs some 2,200 people with an international production and sales network covering 34 major cities worldwide.
For more information go to www.pico-na.com.