A Springfield company says it was a problem with their bank… not a lack of money… that led to thousands of checks being returned in the past week.
THR and Associates estimates as many as four-thousand checks… issued to customers, vendors and employees… did not clear after the company’s account at a local bank was abruptly shut down.
A THR spokesman says the company does not know why the account was closed… but says it was not because of insufficient funds. He says the company has been contacting people whose checks did not clear and are replacing them with checks from a separate account at a different bank.
The spokesman says about 90-percent of the affected people have been contacted and getting the money they were owed.