Wednesday, November 10, 2010

How Bad Is It?

More big chains closing just before the holiday season. Remember Circuit City last year?

Pair of area Lowe's stores close

"Citing inadequate past sales and bleak projections, Lowe's closed two of its Inland Empire stores Sunday night, leaving 181 people jobless.
The two locations were at 4060 N. Hallmark Parkway in San Bernardino and 15000 Dale Evans Parkway in north Apple Valley, said company spokeswoman Maureen Wallace.
"Initial sales were well below projections and they haven't improved over time," Wallace said. "Lowe's just couldn't see a scenario that led to a profitability."
Ninety-one employees at the San Bernardino store and 90 in Apple Valley received notice Sunday night of the closure. Company officials said they were given 60 days pay and benefits.
The only employees retained following the closure were the managers for both stores.
Wallace said there was no closing sale. Merchandise will be returned to a distribution center or moved to other locations, she said.
Jeff Starnes, Lowe's regional vice president for Southern California, praised the employees and said they worked hard to keep customers coming back.

He declined to comment on whether any other Lowe's stores are in jeopardy of closing."


Anonymous Anonymous said...

Circuit City deserved to go down. If you remember correctly, all the "associates" were fired then invited to be re-hired at lower wages. I for one didn't forget this dumping on the workers and never returned to the store. I'm sure I wasn't the only person with this attitude.

11/11/10 10:35 AM  

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