Craig Finney, president of the W.E. Bassett Co., confirmed Wednesday the business will close its Shelton offices after more than 70 years in the Valley.
The company currently employs 150 people at its Trap Falls Road headquarters, Finney said.
The Shelton offices will most likely close in November, though the date is tentative.
The Connecticut Post first reported Monday the company was planning to shut its doors in Connecticut.
Finney said it is an unfortunate development but goes with the process of integrating the company’s operations with Pacific World Corp., a California-based company which bought Bassett in November.
Finney said the company will work with state and local leaders to help the local workers who will be losing their jobs.
“We’ll be as supportive as we can, however we can,” he said.
The company was founded in 1939 by William E. Bassett as a general machine shop and made munitions parts during World War II.
In 1947, Bassett designed the “TRIM” nail clipper and started producing them from a factory on Francis Street in Derby.
The success of the product allowed the company to build a new plant on Roosevelt Drive in 1952 and a second factory which was built in Shelton in 1978. The company’s headquarters moved to Shelton in 1988.
The TRIM line includes more than 150 products today, and the company is the largest supplier of beauty implements in the country, according to its website.