North Venice-based Tervis files for bankruptcy, layoffs expected

NORTH VENICE, Fla. - Drinkware manufacturer Tervis has filed for Chapter 11 bankruptcy, the company announced Thursday, as part of an effort to "reorganize."

The company, which is headquartered in North Venice, cited several reasons for its decision, ranging from "disruption of the market" to a big drop in overall retail spending over the past few years.

Tervis headquarters in North Venice. (Courtesy: Tervis)

Layoffs are expected in the near future, Tervis said, although it's not clear how many jobs will be affected.

The move comes months after Tervis closed its distribution facility and began working to sublease the property, something the company says "drastically affected current operations."

Tervis was founded in 1946 and is known for its tumblers, mugs and other drinkware.

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