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FARIBAULT WOOLEN MILLS 




Depending on who you talk to, the Woolen Mills has closed after 144 years of business.

“I know it’s been stressful for the last week or so,” Faribault Mayor John Jasinski said Tuesday.

Still, no official word has come down.

“The hope of the board is to be able to continue to provide a quality place to work and a quality product,” said Mark Michel, an outside independent director of the Woolen Mills.

“The company has stopped operations because it needs working capital,” he said. “There have been a number of efforts by a lot of well-intentioned people. Our issue is financial.”

Officials with the Schwan Foundation, the senior creditor in the business, did not immediately return phone calls seeking comment.

A trip to the facility on Tuesday found the parking lot empty, and one employee in the makeshift retail store, now housed within the mill itself.