Under the New York State WARN Act, businesses with 50 or more full-time employees must give the New York State Department of Labor 90 days notice if it is closing or laying off employees.
Unfortunately for approximately 109 workers at Guaranteed Returns in Holbrook, the company on Colin Drive in fact notified the NYS Department of Labor that it would be closing.
According to the filing obtained by the South Shore Press, layoffs will stagger up until the business officially closes on May 24th, 2024.
Job terminations at Guaranteed Returns will take place on the following dates:
22 employees on March 15, 2024
53 employees on April 12, 2024
17 employees on April 26, 2024
5 employees on May 10, 2024
12 employees on May 24, 2024
Guaranteed Returns was a “reverse pharmaceutical distributor.”
According to the New York State Department of Health, a "Reverse Distributor" is a company which receives pharmaceuticals from a wholesale or retail seller or a healthcare facility for the purpose of returning unwanted, unusable, or outdated pharmaceuticals to the manufacturer or to another entity that can legitimately “reuse the medicine.”
Guaranteed Returns President and CEO Paul Nick addressed the company closure and layoffs on the business’s website, thanking customers for their loyalty and employees for their years of service.
“It has been our honor and pleasure to serve the pharmaceutical return needs of an amazing industry comprised of highly regarded individuals who have become our friends, supporters, and cheerleaders,” wrote Nick.
In light of the layoff announcement, Guaranteed Returns announced it will no longer accept any new return products. All pharmaceuticals will be “returned to sender.”
If customers have any questions concerning pharmaceuticals that may have been shipped there already, they can call 1.800.473.2138.