Wills To Close After 42 Years

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One month after owner Ed “Watty” Wills’ apparent suicide, the Frank J. Wills Co. in Little Rock, Ark., is closing after 42 years.
The trustee for Wills’ estate, Little Rock attorney Jim Penick, confirmed that the family-owned shop will close following a sell-off of company assets over the next 30 days. The decision eliminates the jobs of 35 employees, although a third have already found new employment, said agency official Bill Paschall.
Penick said the shop was closed after an evaluation of assets and debt structure, but the main reason was the loss of Wills, whom colleagues said spent as much as 14 hours a day at the agency founded by his late father.
“It was a significant blow to lose the hands-on guy, and based on the overall financial picture, the prudent thing was to wind it down and liquidate everything,” said Penick.
Penick enlisted accounting officials from Little Rock agency Cranford Johnson...



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