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Cosmetics Packaging Firm Furloughs 300

Risdon International Inc. says it is considering bankruptcy after furloughing 65 people in its Watertown, Conn., office and about 235 at locations elsewhere Friday.

WATERTOWN, Conn. (AP) -- A Connecticut-based cosmetic packaging company has shut down operations throughout the country, including a site in New Hampshire.

Risdon International Inc. says it is considering bankruptcy after furloughing 65 people in its Watertown, Conn., office and about 235 at locations elsewhere Friday.

The company has U.S. manufacturing facilities in Middletown, N.Y., and Laconia, N.H.; and others in Canada, Mexico and China.

Risdon says it had to make the drastic move after its bank cut off its line of credit and swept its accounts last week, including its payroll funds.

Risdon makes cosmetics packaging products that include lipstick tubes, mascara vials and brushes, finishes for perfume bottles and other types of caps and closures.

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