Can CW salvage Grossman's Inc.?
Article Abstract:
The closure of 60 Grossman's Inc stores in the Northeast and the elimination of 1,600 jobs is another chapter in the story of several regional home center chains that have folded or being forced to file for bankruptcy protection. Over-expansion during the 1970s and 1980s are the underlying reasons for the companies' predicament. Grossman's, however, is expected to be bailed out by its more profitable Contractors' Warehouse and Mr. 2nd's Bargain Outlet stores.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1996
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Grossman's dissolves Eastern division, vows to pay vendors
Article Abstract:
Grossman's Inc has announced the planned closure of its Eastern division as well as the closure of 60 stores that has not performed well. The store closings are expected to put 1,600 employees out of work. In addition, Grossman's plans to drastically reduce the number of employees at its headquarters in Canton, MA, from 250 to 50. Grossman's CEO Sydney Katz says that although the moves are painful, they are in the best interest of shareholders.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1996
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Buyer beat: David Levine, Pergament Home Centers, Inc
Article Abstract:
Pergament Home Centers Inc has changed to meet the competition of larger chain home center stores. The product mix has been expanded to meet the expectations of customers who shop at such large stores as Home Depot, which is considered to be Pergament's only real competitor. Pergament's prices have also remained competitive with larger chains. Such products as decorative hardware have been upgraded.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1996
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Comment about this article or add new information about this topic:
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