BRISTOL, Tenn. -

A company in Bristol, Tennessee announced it's closing it's doors.

Synalloy Corporation, the parent company of Bristol Fabrication, posted a statement on it's website saying a division of the Bristol location will close June 27.

According to the statement, the employees were notified Monday.

The company says Bristol Fabrication lost more than $5 million  between 2011 and 2013, and lost more than a million dollars during the first quarter of this year.

The company says it failed to reach a new agreement with the union that represents it's workers to reduce costs to become profitable.