Reporting Sandra McNeill
TROY (WWJ) - The Entertainment Book, since 1962 a popular gift and a way for metro Detroiters to save some cash, is no more.
Entertainment Publications — the Troy-based company known for those thick coupon books — has filed for bankruptcy protection and laid off hundreds of employees. According to its website, the company employs about 500 people with more than half of those in southeast Michigan.
Entertainment Book employees, some with tears in their eyes, said they arrived at work Tuesday morning to be told the company is bankrupt.
Bhanu Rajoli was among those cleaning out their desks. ”I just came in and my CEO told me …. that we don’t exist anymore. I’m sorry for all the trouble,” Rajoli told WWJ Newsradio 950′s Sandra McNeil.
Rajoli said it was a great place to work. He said he knew the company was in trouble, but he didn’t expect it fold so suddenly.
Royal Oak resident Vern Schenk said he often bought the books to give as Christmas gifts and was shocked to hear of the closing. “They’ve been around a long time, absolutely,” said Schenk. “It’s practically an institution. That’s too bad.”
WWJ has a call out to the Entertainment Book company for comment.