The governor of Illinois said the state government will suspend business with Bank of America Corp. until the bank restores credit to the shuttered Republic Windows & Doors company in Chicago.
Gov. Rod Blagojevich also said the state's labor department will file a complaint if labor negotiations aren't concluded quickly. Workers got three days' notice last week that the Republic Windows & Doors plant was closing on Friday, and since then they've occupied the building around the clock, saying they won't go home until they're assured they will get their severance and vacation pay.
Company officials had told the plant's union that they were being forced to close because their main lender, Bank of America, had withdrawn their financing.
A spokesman for Bank of America did not immediately return a call seeking comment.
Bank of America is participating in the U.S. government's bailout program, which has been infusing banks with capital in an effort to stabilize the industry. The banks that receive the government aid are supposed to continue lending normally, and use the cash so they don't have to close down any of their financings.
Bank of America's shares were recently up 12% at $17.10 amid a broader market rise.
