Scotts Miracle-Gro will shut down Smith & Hawken, the premium gardening chain that it bought five years ago, the Marysville-based company said yesterday.
Scotts said a year ago that it was considering options for the chain, which has struggled during the recession.
Scotts paid $58 million and took on $14 million in debt in 2004 for Smith & Hawken, which sells high-end lawn furniture, garden tools, gardening clothes and accessories.
All of Smith & Hawken’s 56 U.S. stores, including the Easton Town Center location, will be shut down by the end of the year. Seven hundred workers will lose their jobs.
Outside consultants will manage the closing, which will begin with storewide sales today. The Smith & Hawken Web site, catalog and call center will stop taking orders this morning, but the company didn’t provide a specific time.
Link.
CityBiz Real Estate has a look at how this will affect the Baltimore and Washington D.C. markets.
Bankruptcies and Liquidations:
- Jan. 7, Goody’s liquidates, closing 287 stores
- Jan. 8, Against All Odds files for bankruptcy protection, operates 64 stores overall, plans to close West Coast stores
- Jan. 13, Shane Co. files for bankruptcy, operates 23 stores
- Jan. 14, Gottschalks files for bankruptcy, operates 58 stores, Update: March 31, Gottschalks will liquidate
- Jan. 16, Circuit City to Liquidate, closing 567 stores
- Feb. 6, Fortunoff, operates 20 stores
- Feb. 6, Bruno’s, operates 66 stores
- Feb. 12, S&K Famous Brands, operates 136 stores; Update: Feb. 19, plans to close 30. Update: May 26, plans to close rest.
- Feb. 17, Innovation Luggage, operates 10 stores
- Feb. 23, Ritz Camera, operates about 1,000 stores; Update, April 6, closing 300 camera stores and 120 Boater’s World stores
- March 6, Joe’s Sports & Outdoor, operates 30 stores
- March 25, Bi-Lo, operates 215 stores
- April 13, Z Gallerie, operates 56 stores
- April 13, Ultra Stores, operates 181 stores
- May 5, Filene’s Basement, operates 25 stores, sold 17 Update: Syms and Vornado buy the chain.
- May 28, Anchor Blue, operates 177 stores, closing 50
- May 29, Oilily, operates 33 stores, closed 8
- June 17, Eddie Bauer, operates 371 stores
- July 2, Crabtree & Evelyn, operates 126 stores
Potential Bankruptcies & Liquidation Impact: 1,526 confirmed closures out of about 3,422 stores
Announced Closings
- Jan. 8, New York & Co., 50 stores
- Jan. 8, Macy’s, 11 stores
- Jan. 9, Supervalu, 50 stores
- Jan. 13, Cost Plus, 26 stores
- Jan. 20, Yankee Candle, 28 Illuminations stores
- Jan. 21, Filene’s Basement, 11 stores
- Jan. 22, Phillips-Van Heusen, 175 stores
- Jan 22, Brown Shoe, up to 35 Famous Footwear stores
- Jan. 26, Home Depot, 48 stores
- Jan. 29, Starbucks, 200 U.S. Stores (plus 100 international)
- Jan. 29, Chico’s, up to 25 stores
- Feb. 9, Talbots, 20 stores
- Feb. 24, Jimmy’Z, 11 stores
- Feb. 24, Z. Gallerie, 25 stores
- Feb. 25, Zale Corp., 115 stores
- Feb. 26, Gap, 50 net closings
- Feb. 27, Sears, 44 stores
- March 3, Virgin Megastores, 6 stores
- March 6, Ann Taylor, 37 stores in 2009, 163 total by end of 2010
- March 18, Drug Fair, 11 stores
- March 23, Pier 1, 80 stores
- April 3, Rite Aid, 117 stores
- April 21, Kirkland’s, up to 40 stores
- April 29, Jones Apparel Group, 225 stores
- June 8, J.Jill, 75 stores
- June 16, Ruehl, 29 stores
- July 9, Smith & Hawken, 56 stores
Total Closings: up to 1,600 U.S. stores
Potential Impact of All Announcements to Date: 3,126 closures out of up to 5,022 potentially affected U.S. stores