Batton Cotton Inc., which provides direct marketing fundraising services to non-profit organizations, has gone out of business, according to industry sources, online messages and a published report.
According to online chat rooms, the company’s entire 250-person staff was let go on Monday.
In a published report, The NonProfit Times said it had a letter sent to Barton-Cotton’s creditors by the Bank of Montreal notifying recipients that the debtor (Barton-Cotton) had defaulted on its obligations, and that the Bank of Montreal was entitled to collect all accounts receivable.
American Capital Ltd (formerly American Capital Strategies) is the majority owner of Barton-Cotton. In early December, American Capital announced it would cut 110 positions (roughly 19%) of its combined U.S. and European work force. The company did not mention Barton-Cotton by name.
Messages left with five Batton-Cotton employees, as well as with American Capital, were not returned by deadline.
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