Mount Vernon, WA—Local newspaper “The Skagit Valley Herald” reports that plants cataloger Etera is in serious financial trouble. Public records show that the company owes some $70,000 in workers compensation taxes and has two property liens pending. In addition, the paper reports that Etera, “has idled” operations in Burlington, WA, and here. Calls to both the company’s offices and toll-free ordering line on July 27 went unanswered, although the lines weren’t disconnected.
According to the paper, Etera began laying off most of its 180 full-time employees in the two locations in June. Then last week, the company reportedly dismissed most remaining staffers. Also, in its Mabton, WA, plant-growing facilities, most of its 140 employees were laid off on July 23, according to “The Yakima (WA) Herald-Republic.”
Meanwhile the “Valley Herald” also reports that Etera founder Carl Loeb “is no longer in charge of operations.” Etera is reportedly being run by Kirkland-based OVP Venture Partners and other venture capital firms that had invested in Etera. OVP Venture Partners is the largest single shareholder in Etera. OVP spokesperson Kathy Love wouldn’t comment on the situation.