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Press Announcement
Sovereign City Communications to cease operations effective January 5, 2009
It was announced today by a representative of Sovereign City Communications that the enterprise has elected to cease operations effective immediately.
Sovereign City's decision was based upon the volatility of the economic circumstances which came together during the past year. These circumstances left the company with no current revenue stream and no prospect for a near term future growth. Ultimately the combination of the state of the economy together with the inability to obtain a new investment capital left the company with no choice but to cease operations.
The company's attorney, Gregory B. Gill, Sr. of Appleton, indicated that each employee will be offered outplacement services and the opportunity to participate in a severance arrangement in order to assist former employees into their transition to search for new employment. He also confirmed that due to the small size of the employment contingent, which is approximately 40 employees, the 60 day closing notice required under federal or state law for larger companies did not apply.
Sovereign City, which is located in Allouez, Wisconsin, began operations in July of 2007. The company mission was to produce and distribute syndicated music formats.
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