Schwebel Baking Company winding down operations in Youngstown
The company started by Joseph and Dora Schwebel more than 100 years ago in Youngstown is coming to an end.
Steve Cooper is a veteran bakery professional and the CEO of Schwebel Baking Company.
“The Schwebel’s brand has been known for the highest quality of bread, buns and other bakery products for over 100 years, and we are devastated to reach the point where liquidation is the only remaining option,” Cooper said. “We’ve worked with our advisors for several months to identify a buyer or investment source, however despite significant efforts to adapt to changing market conditions and secure additional investment, the company was unable to establish a sustainable path forward.”
After evaluating alternatives and considering the company’s financial condition, the board of directors at the Schwebel Baking Company announced they’ve decided to wind down operations and pursue a formal liquidation of the business in the coming weeks.
Schwebel’s intends to operate through the Fourth of July weekend.
Their high-quality bread, buns and rolls have been available as branded and private-label fresh bakery products for retail, grocery, food service and institutional customers across Ohio, Pennsylvania and New York.
The wind-down will include the company’s bakeries in Youngstown and Hebron and its retail stores and distribution centers across the tri-state area.
“The board of directors, management team, shareholders and the Schwebel family are deeply grateful to our employees for their dedication to the Schwebel’s brand,” Cooper said. “Their hard work, commitment and pride in producing quality bakery products helped build and sustain this company for generations.”
The company said Schwebel’s has faced significant operational and financial constraints for many years, including aging manufacturing facilities and equipment.
“We also extend our sincere appreciation to our customers, business partners, suppliers, retirees, and the communities we have served throughout our 120-year history. Their loyalty and support have been instrumental in the success and legacy of Schwebel’s,” Cooper said.
