New World to Close 2 Dough-Making Plants
Bloomberg News
New World Restaurant Group Inc., which operates Einstein Bros. and Noah’s New York Bagels stores, said it will close a plant in San Fernando and one in New Jersey to save money.
About 60 jobs, or less than 1% of New World’s work force, will be eliminated when the two dough-making plants are closed. Manufacturing operations will be moved to Whittier and to Avon, Ind., New World said.
New World franchises Manhattan Bagel and Chesapeake Bagel Bakery stores.
The two plants being closed were acquired in the purchase of Manhattan Bagel Inc. in 1998.
The closings will reduce third-quarter earnings by an undisclosed amount, the company said.
Shares of New World rose 2 cents to 19 cents in over-the-counter trading.
