Fagor America will be shutting down operations after its parent company in Spain announced it would close, HomeWorld Business has learned.
In a letter from Fagor to its retail customers that was obtained by HomeWorld Business, company officials wrote, “Fagor America will be affected by this cessation and we anticipate the company will be closing in the next couple of months.”
The letter, sent in late February, continued, “We want to assure you and your customers that we will [be]supporting you during this period to make sure service and coverage of warranties continue uninterrupted. We do have product in stock and in transit that we intend to sell in an orderly fashion to preserve the integrity of the Fagor brand.”
Fagor will be at the International Home + Housewares Show later this month to meet with retailers and discuss the issue further, company officials said.
Company officials were not immediately available for further comment.
News of Fagor closing operations comes three years after it was acquired by CNA-CATA, a Barcelona, Spain-based company that acquired Fagor Electrodomésticos, which had filed for bankruptcy in November of 2013.
Following that deal, Fagor America resumed its product development efforts and its Lux multi-cooker has been among the company’s top-selling products.