LOCKPORT, N.Y. (WBEN)......Candlelight Cabinetry, a venerable Lockport manufacturer of specialty designed cabinets, is poised to make a phoenix-like return less than six months after the firm abruptly shut its doors.
The company, located in a 200,000-square-foot building at 24 Michigan Street, is being revived thanks to a trio of local businessmen : Peter Demakos, Aaron Santarosa and Jon Ebel and a partnership they've forged with Sherbrooke, Quebec-based Cuisine Ideale.
In all, some $11 million is being invested to get Candlelight up and running, with manufacturing set to begin later this month.
"This is a great opportunity for Lockport and all of Niagara County," said Demakos, Candlelight Curated Inc. CEO.
Candlelight Curated - led by Demakos, Ebel and Santarosa - is the new parent company of Candlelight Cabinetry, with Cuisine Ideale having a minority ownership stake.
"For us, this is a long term commitment," Demakos said. "This is not a venture capital scenario. We want to bring Candlelight back to its former position."
Founded more than 36 years ago, Candlelight carved out a strong position within custom cabinetry circles - mostly interior designers and specialty retailers.
But, in recent years, the company fell into a deep financial whole leaving behind a legacy of unpaid bills, owed taxes and back pay to employees.
The company, without warning, closed its doors on Jan. 28, putting 176 employees out of work.
"It was dangerously close to bankruptcy and that would have been the end of the company," Demakos said.
But, when Demakos was contacted by a close friend about buying the company and making, in effect, a start-up, he was intrigued.
Santarosa and Ebel were contacted and with help from the Niagara County Industrial Development Agency, Candlelight - this spring - began its revival."
All three executives have past experience in running existing companies and also operating start up operations.
The NCIDA directors are considering nearly $1 million in a variety of tax breaks and a payment-in-lieu-of-taxes package to help with the start-up costs.
Empire State Development is also providing tax breaks.
Initially, Demakos said they hope to hire 80 workers - many of whom previously worked for Candlelight. More will be hired as the company's work load increases.
As for past owed money, Demakos said they beginning to pay those off.
The Michigan Street building also needs extensive renovations, Ebel said.
"it's going to be a long road, but it is an exciting opportunity," Demakos said.
The company has already received advance orders.
Candlelight Cabinetry ready for phoenix-like rise
Candlelight Cabinetry ready for phoenix-like rise
