Thanks to Robert Wenzel . . .

 Thanks to Robert Wenzel . . . 

Extraordinary Government Madness Results in Clorox Ditching Venezuela

Clorox Co. (CLX), the consumer-products company that sells everything from bleach to salad dressing, is pulling out of Venezuela after inflation and government-mandated price freezes made the business unprofitable, reports Bloomberg.

Clorox Venezuela will cease operations immediately and try to sell its assets, according to a statement today.

“This is a very difficult situation for our company,” Chairman and Chief Executive Officer Don Knauss said in the statement. “We are extremely proud of the men and women who did their very best to operate our business in the face of significant economic challenges. We are working to support them through this transition.”

Clorox blamed triple-digit inflation and an almost three-year-long price freeze, which forced the company to sell products at a loss. While the government approved price increases this year, they weren’t high enough to let Clorox Venezuela break even, the company said.