Evergreen International in McMinnville has told employees it will stop operating at the end of this month, according to the Yamhill Valley News-Register.

Evergreen is one of Yamhill County's biggest employers with about 450 staff.

The company moves commercial cargo and has supported some U.S. military operations. It also has a nonprofit arm that runs an aircraft museum and water park. Those attractions will stay open.

But over the last year, the company has fallen into trouble -- paying employees late; having the electricity cut off; and having bond rating companies issue warnings about its finances.

The company also faces legal challenges. An air cargo company out of the United Arab Emirates is suing Evergreen for more than $5 million.

The Oregon Department of Justice is also investigating money transfers between the company's nonprofit and commercial arms.

Evergreen sold its helicopter business to Erickson Air-Crane in March for about $276 million.

Calls to the company were not immediately returned.

This story originally appeared on Oregon Public Broadcasting.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.