Time may be running out on WFR, Financing??

By Maurice Emery
Editor

The Littleton Observer has learned that time may be running out for Window Fashion Resource (WFR).  Halifax County Manager Tony Brown confirmed that WFR has not been able to complete the financing package they need to be able to operate their planned plant in Littleton.  Don Yauger, owner of WFR, has had over a month to secure financing for start-up and operating funds.

Halifax County Commissioners approved the final contract for the Yauger’s to sign on July 14. The contract has now been in Yauger’s hands for six weeks and there is no indication that financing has been secured. It is not clear whether the present credit problems in the general market place are part of the problem.  Brown was not sure of the amount of money Yauger was trying to get financed and attempts to get a hold of Yauger were unsuccessful.  

“I’m very disappointed that they have waited this late to look for financing,” Halifax County Commissioner Rives Manning stated in a telephone interview.   Generally financial packages are done prior to this point.

When asked if there are any deadlines that have been missed so far, Brown said that WFR has not missed any.  It is really up to Yauger at this time, the county has done everything they need to do Brown said.  Manning said the county commissioners are looking into what will happen if WFR does decide to drop out of the deal.  “We are trying to protect the county and the county investment,” Manning stated.

Manning said he was frustrated over the WFR deal.  He feels the county has bent over backwards and doesn’t feel they have been met halfway. 

When asked what the next step will be Manning replied that it will probably be discussed at the next County Commissioners Meeting in September.  One option that will probably be on the table is setting a timeline when Yauger will have to respond. 

If the deal does fall through the county will market the building someplace else.  “We will not let it deteriorate,” Manning added.  The county feels the building is an asset for the county and the town of Littleton. It is now completely ready to move into, so it may make it easier for the county to find a new tenant.