Jasper Rubber Products in Jasper, has announced it will shut down operations on April 30. The closure comes after its parent company, First Brands Group, filed for Chapter 11 bankruptcy in September while facing more than $9 billion in liabilities. The situation has been further complicated by criminal indictments against company executives. Founder Patrick James and executive Edward James have been charged with conspiracy to commit wire and bank fraud, accused of falsifying financial statements and hiding company liabilities. Company officials confirmed this week that the local facility will close as a result of the ongoing financial and legal issues.
