Bank of America today sent a letter to Republic Windows & Doors indicating that the bank will lend the company a limited amount of additional money to pay its workers in the wake of a plant shutdown.
The move could end a five-day sit in at Republic's Goose Island plant. Workers have stayed there since the plant closed Friday, pushing for the company and Bank of America to provide the 60 days pay and accrued vacation time they say they're entitled to.
Republic officials announced last week that the Goose Island plant would close, blaming the shutdown on Bank of America's refusal to provide $5 million in financing.
Bank officials announced the additional funding in a statement today. The bank says that because it has no direct relationship with Republic’s employees, it must provide the funds to the company and rely on management to negotiate with the union and employees to settle claims.
Republic Windows officials have repeatedly declined comment.
A union spokesperson says meetings between the company, Bank of America and workers are still ongoing at the plant, and that people there were unaware of the bank's move.
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