Companies Planning Layoffs, Closing Stores In Illinois

CHICAGO (CBS) -- Seven companies are warning the State of Illinois that they are planning mass layoffs and even closing stores.

One such company is K-Mart. The discount retailer is closing stores in near west suburban Franklin Park, and downstate Washington, Ill. The move will leave 144 employees out of work.

Other companies on the list include Gold Standard Baking Inc., which will close a commercial bakery at 250 N. Washtenaw Ave. on Chicago's West Side, and CD Listening Bar Inc. in Itasca, which sells CDs, DVDs, books and video games at the Web site DeepDiscount.com, the Chicago Tribune reported.

The Gold Standard bakery shutdown will eliminate 73 jobs by the end of March, while the CD Listening Bar closure will eliminate 67 jobs by the end of this month, the Tribune reported.

Also planning layoffs, but not business closures, are Silgan Plastics in Woodstock, Novartis Pharmaceuticals Corporation in Schaumburg, ZipRealty Inc. in Park Ridge, Material Control Inc. in North Aurora, and Fulton Industries in Rockford, the Tribune reported.

Also, Dynegy Inc. is closing its Vermilion Power Station in Oakwood, Ill., which will mean 53 job losses, the Tribune reported.

The Illinois Department of Commerce and Opportunity requires all companies to provide the state with 60 days' notice of plant closures or major layoffs.