MHProNews has learned from kota tv that Magnolia Homes in Gering, Nebraska has closed its doors, and area development officials are looking for a new tenant. Citing large job losses and difficult finance problems in North Dakota due to the drop in oil prices, owner Harry Karsten sent a letter to employees that the company was closing.

At its peak, Magnolia had over 100 employees. Karsten expressed his sympathy to his employees and their families for the closure, and said it was the most painful decision of his business career. ##

(Photo credit: Magnolia manufactured homes)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.