advertisement
advertisement

Former Necco CEO has a plan, but he needs your $20 million first

Former Necco CEO has a plan, but he needs your $20 million first
[Photo: Lkeers1415/Wikimedia Commons]

Last month, Americans were seized with panic over news that New England Confectionery Co. (NECCO), the company behind those old-school colorful wafers and sweetheart candies, could go under this May.

Fans of the treat quickly bombarded Amazon and online candy stores to stock up, with Candystore.com reporting that wafer sales spiked 150%. It’s been dubbed Necco-mania, and it is probably affecting a baby boomer near you.

Amidst the hoarding, one man has a concocted a plan to potentially save the company: Al Gulachenski, who served as the company’s CEO from 2011-2015, wants to crowdfund the solution. He set up a GoFundMe page with the modest goal of raising a cool $20 million.

“There are a lot of GO FUND ME pages set up to save NECCO but this one is the only legit one around because I have the team to make the company successful once again,” writes Gulachenski. “I appreciate everybody’s efforts to save the company but once you buy it you need to be able to run it.”

Gulachenski intends to contribute $5-$10 million of his own money, in addition to the communal pot, to bring back the executive team he previously worked with. He also says he wants to keep as many of the current employees as possible and move the 170-year-old brand to Massachusetts.

The company is reportedly in talks with a buyer, but that’s no good because he or she “is planning to liquidate the company, fire all the employees,” claims Gulachenski. He ends his public plea by appealing to Americans’ moral responsibility:

“Who is with me? It’s time to show the power of the people can overcome corporate greed,” writes Gulachenski. “Let’s get this done.”

advertisement

It’s been a week, and the project just recently broke the $10,000 barrier.

For those wary of contributing to this financial coup, there’s always the social media way: Simply tweet #SaveNecco.

advertisement