Wednesday, February 20, 2008

City approves loan for new company

Wednesday, February 20, 2008 - Posted 6:39:20 PM

The Minonk City Council approved a loan for $20,000 to the newly formed Toluca Tailoring Company, Inc. at a special session Wednesday night Feb. 20th, 2007.   The money will come from the CIty's revolving loan fund and has a loan period of 7 years at 5 percent.  The Heartland Partnership Consulting firm, which has a consulting contract with the City, was instrumental in helping the new firm locate in Minonk.  The new company will be leasing the Just Stuff Antiques building in the north end of the Chestnut Street parking lot downtown Minonk. 

President Valerie LIlley said the new company was formed to pick up the pieces of the former Toluca Garment Factory, which closed down last year, and to put it back together again.  She said they were unable to find a suitable building in Toluca and decided to relocate to Minonk which will be only 10 miles away from the former work force at TGF.  The company employed 80 people and was a manufacturer of fine quality custom tailored clothing known for its suits, jackets, vests and pants. 

Initial plans are to hire 15 people who are able to do multi tasks and 2 officers.  Lilley said these people in turn will become supervisors.  Plans are to have 25 people on the floor by the end of the year.   Lilley said they hope to be up and running within a month and expects sales to be up to $98,000 a month by June.  Income for 2009 is projected to be nearly $1 million.

The equipment at the former Toluca Garment Factory is being purchased for $20,000 from Alpha Community Bank and will be moved to the Minonk location.  Important management people at the former Toluca Garment Factory will be working with the new company.  They include lead designer Steve Rollheiser and Master Tailor Franz Stoeger.

Lilley said that start up costs will be $237,413 plus there will be a need for $50,000 in working cash.  She said this is a small sum considering the former Toluca Garment Factory had annual revenues of $3 million.  The company will initially produce two grades of suit coats and one grade of vest and pants.  The suits will be superior in grade.  The Top Grade coat will cost $425, Classic coat $375, Pants $105 and Vest $90.

The company will primarily be making clothes for their dealers who are custom tailors.  The tailors are contacted by their client who can afford an $800 to $1200 suit.  The tailors submit their clients order to Toluca Tailoring which custom tailors the garment based on the specification of the local tailor.

Lilley is also owner of Sofi's Stitches of Peoria and plans to move the company into the Toluca Tailoring building next November.  Sofi's Stitches specializes in making masquerade costumes. Sofi's will pay a monthly rent to Toluca Tailoring and also provide some work.  Sofi's will bring three full-time jobs with it.

The other sources of loans for the new company are Alpha Community Bank - $118,700; Tazewell County RLF - $20,000; and Woodford County RLF - $98,700.
                        Viewer comments on this article

Good Deal!! wrote on 2/26/2008 at 03:07:35

Why does it matter if Toluca is in the name?? There is a restaurant in Peoria that is called Old Chicago. Is it bad that Chicago is in the name and the business is in Peoria?? I am sure there are millions more out there but that one was at the top of my head. Good to get a new business in town. Hopefully we can get A LOT more. BRING ON THE WIND FARM!!!

ssooo happy wrote on 2/25/2008 at 16:20:36

Maybe Toluca Tailoring won't turn customers away. Toluca Garment did not make a person go to a retailer to purchase a garment. We had a designer and a very good tailor that took the measurements of costumers that came to the front door.After the garment was finished they came and picked it up in person. Maybe the car plant in B-N should start selling their car of the lot.

Reminder Part 1 & 2 wrote on 2/24/2008 at 03:52:02

Yes, I did read the article. You can't buy a Mitsubishi from the Normal plant either. You buy from a dealer. I'm sure Toluca Tailoring would help you find a retailer if you'd care to even explore the option and say, "I'd like to try to see how I can support you" instead of quickly saying "I can't." Yes, the suits are expensive. Not everyone can afford them. That's OK. There may be other ways you can help this employer too. My point is IF you're going to call yourself a supporter, take it upon yourself to find out what you can do to support the business, instead of doing nothing while someone else makes it work.

Shasha wrote on 2/23/2008 at 15:35:29

THanks for keeping Toluca in the name. I am from TOluca and was disheartened when the facotry closed after all these years and it is so nice of her to keep Toluca's name alive. THank you so much and good luck in your endeavor.

To Reminder Part1 and 2 wrote on 2/23/2008 at 07:17:23

It seams you don't know the business. The TGC. had their own cloth to choose from. Sample books were sent out twice a year with cloth samples to the dealers. Or you could send in your own. Some people will trave to Europe and bring back cloth from Italy or Scotland.As for customs in the area;suits were made for Chicago Bears players, Ministers in the surrounding area,bishops,senators,dr. Need I go on? Know your facts before you voice you oppinion.

To: Reminder Part 1 & 2 wrote on 2/22/2008 at 13:35:42

You need to read the article they are just the suit producers you have to by their goods from some were else. Last I know there is not much demand for people around here to wear $1000 suits

Reminder - Part 2 wrote on 2/22/2008 at 12:12:02

My point is this: If YOU really want to make positive change happen, you need to work together and make personal committments to bring about progress, not just sit back and complain about the lack of progress and then claim you were a participant when you really did nothing to cause the change to occur. There's been too much whining and dissention in the past. No wonder the community has been slow to see the progress it wants. (By the way, it's an age-old business practice to retain a familiar and successful business name that might otherwise seems out of context, e.g., I believe one local law office's official name still is (or at least was for years) "Reily and Reily," despite the fact no Reilys are involved.

Reminder - Part 1 wrote on 2/22/2008 at 12:11:36

I agree this is great news for Minonk. To those who call themselves advocates for progress, however, are you just going to sit back (like you will if the wind farm is developed),and say that you were an supporter of progress, when in fact, you were just a beneficiary? Or are you going to ACTUALLY SUPPRT this employer by buying the products it produces?

Jason E Buchanan wrote on 2/22/2008 at 04:52:05

Great job by the City and all involved to bring in something to help both communities out. It is a win, win for all.

Good deal! wrote on 2/21/2008 at 17:34:22

Who cares about the name! Lets all stay positive, more jobs in the town and a empty building is filled.

Editor wrote on 2/21/2008 at 13:19:27

This article has been updated to reflect the fact that the customers of Toluca Tailoring will be custom tailors or dealers who have clients wanting special high quality custom made suits.

?? wrote on 2/21/2008 at 12:24:11

This won't actually be a retail store is that correct? Just where they are made at.

maybe wrote on 2/21/2008 at 12:56:43

Maybe they are calling it that to help get back some business and its an already established name.

DREAMCATCHER53 wrote on 2/21/2008 at 11:18:36

I have to agree,why call it toulca tailoring,when it is in Minonk and the city of Minonk appoved it..

Good Luck. wrote on 2/21/2008 at 06:35:06

This is awesome for Minonk. Unlike other items that have been proposed (can we say RaceTrack). Toluca Tailoring seems very viable, and they are actually making progress. I wish them the best of luck. Since, I normally have to go to Peoria or Bloomington to find a good suit, I will try them out.

Good for Minonk wrote on 2/21/2008 at 03:25:49

But why is it called Toluca Tailoring?

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