Promises to a federal agency back Louisiana officials as they reassure residents that the city’s largest employer has no plans to close or leave.

Garrison Investment Group of New York plans to foreclose by May 25th on Speed Commerce Incorporated’s Fifth Gear plant, which has 400 workers and provides order fulfillment services.

In a filing with the Securities and Exchange Commission, Garrison says it will continue to operate the company and employ substantially all of Fifth Gear’s employees while it works on financial obligations.

Speed Commerce is a Texas-based company that bought Fifth Gear in 2014. The SEC says it is in default on terms of a credit agreement and owes Garrison more than 127 million dollars.

Louisiana Mayor Bart Niedner said company officials have assured him that they value the Louisiana plant and pledged to continue operations with pay scales of at least current levels.