Breaking News: Tri-Mountain To Close
(Editor's Note: PPAI Media originally published this article on Aug. 16. It is updated as of Aug. 18 with new details.)
A major promotional products apparel supplier will take its last orders Thursday.
Tri-Mountain (PPAI 134335, S11) announced Tuesday that it is set to close. The Irwindale, California-based company has been in operation for almost 30 years.
In a statement announcing the closing, the company said, “Since starting Tri-Mountain in 1993, we’ve had the honor and privilege of earning your business and support. We cannot fully express our gratitude for the opportunities to work with you over the decades. On behalf of our entire Tri-Mountain family, please accept our deepest thanks and our best wishes for your continued success.”
Tri-Mountain's falling sales in recent years were considerable. It had regularly ranked as one of the industry’s larger suppliers in the latter half of the 2010s.
- It came in as the 25th largest supplier by revenue in 2017 sales, according to a Counselor estimate.
- However, it had fallen out of the top 40 by 2021 sales, with estimated revenue slipping by more than $17 million since 2017.
- Still, the decision to cease operations felt sudden to some workers at the company. Many didn't hear the news until Tuesday.
"The closure is a bit of a shock to me," said one Tri-Mountain employee with several years of experience. "Though, the writing was on the wall, so to speak. But I'm definitely hustling to find work."
A Family-Owned Business
Tri-Mountain was founded by Daniel Tsai, who has remained in charge of the company through its near 30-year life cycle. Other family members have also played key roles in the business through the years.
"The senior leadership kept things to themselves, unfortunately. But as a family-owned business, it makes sense," the veteran employee said. "They took care of me and my time there, but I am disappointed in how it all went down. I definitely don't want to speak ill of them; they're good people, it's just odd to me how it all happened."
- Tsai told PPAI Media earlier this week that the company will soon provide an update on where its merchandise will be available following the ceased operations.
The company's website offers some communication for customers on the status of existing orders and how Tri-Mountain will handle operations at it prepares to shutter.
- Decorated orders in progress will be delivered as planned. Tri-Mountain is not accepting any new decoration orders.
- All sales are considered final. Tri-Mountain will accept no returns or exchanges, nor offer refunds.
- The company acknowledges that inventory levels will be rapidly changing as it wraps up operations. Inventory numbers shown online are a guideline and will be confirmed by Tri-Mountain staff after order placement, the company says.