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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Emergency services, Aug. 17 ... Judge sides with Ashland Gun Club ... Discovery keeps jet boats launching despite lack of parks permit ... Emergency services, Aug. 17 ... Judge sides with Ashland Gun Club ... Discovery keeps jet boats launching despite lack of parks permit ... Erickson faces $3.5 million fee if it can't repay loan by Aug. 29 Comment By The Associated Press MailTribune.com By The Associated Press Posted Aug. 12, 2016 at 2:35 PM By The Associated Press Posted Aug. 12, 2016 at 2:35 PM » Social News PORTLAND — Wells Fargo is threatening to charge Erickson a $3.5 million fee if it can't repay a $140 million credit line by Aug. 29, according to a recent document the company filed with the U.S. Securities and Exchange Commission. Erickson Inc., with headquarters in Portland and manufacturing facilities in Jackson County, hasn't made an annual profit since 2013, reported The Oregonian/Oregon Live (http://bit.ly/2bd9Ihv). The helicopter operation has warned employees of another round of layoffs and Wells Fargo, its primary lender, wants the company to find another financier. "What the lenders are saying is, 'This is too risky, we don't want the liability,'" said Hamed Khorsand, who follows the industry for BWS Financial. "They're either going to drive Erickson into bankruptcy or the company will find some really expensive alternative financing." Erickson lost a major wildfire-fighting contract with the U.S. Forest Service earlier this year and struggled with $372 million in long-term debt. The company's stock might also be kicked off the NASDAQ exchange because of insufficient market capitalization. The company lost $10.2 million in 2014 and $86.7 million in 2015. Erickson also lost $26 million in the first quarter of 2016. Erikson officials and Wells Fargo officials declined to comment on the situation. Erickson chief executive Jeff Roberts wrote in a recent letter to employees that the company will have to cut costs and jobs to survive. "We must restructure and refocus our organization to reflect our expected level of activity and revenue generation," he wrote, according to a copy of the letter obtained by The Oregonian/OregonLive. "Unfortunately, that means we are undertaking the difficult action of laying off colleagues." Roberts said the cuts will be focused on management. By The Associated Press MailTribune.com By The Associated Press Posted Aug. 12, 2016 at 2:35 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501