Posted on 07/04/2018 5:32:27 PM PDT by huldah1776
BLUEFIELD, Va. — Ammar’s, Inc., the parent company of the regional Magic Mart chain, is closing all of its department stores in southern West Virginia and Southwest Virginia, as well as the company’s headquarters and warehouse facility in Bluefield, Va.
Hundreds of employees in three states will be impacted by the looming closures, and the Magic Mart stores in Welch, Tazewell, Richlands, Grundy and Beckley will all be shuttered. WARN, or Worker Adjustment and Restraining Act, notices have been delivered to all of the impacted employees.
“After more than 97 years of serving southern West Virginia, Southwest Virginia and eastern Kentucky, Ammar’s Inc., parent company to the Magic Mart stores, is announcing that they are ceasing operations and will begin liquidation,” K.A. Ammar, III, president of Ammar’s Inc., said. “It is with much sadness that this occurring, but the difficult economic conditions that continue to persist in the markets we operate in have left the company with no other choices. Ammar’s has issued WARN notices to all employees and will begin liquidating the inventory around August 1. All locations are expected to be closed sometime around November 1.”
The loss of jobs, and those department stores that small communities depend upon, will negatively impact the region, area officials said Monday.
“Our community is absolutely going to be devastated,” Bluefield, Va. Mayor Don Harris said. “There is approximately 100 employees in the Bluefield, Va. office alone, and of course you’ve got 15 stores that will be impacted by it as well.”
Harris said Ammar’s, Inc., has been a pillar in the Bluefield, Va., community.
(Excerpt) Read more at bdtonline.com ...
Many of these retail outlets are getting crushed by Amazon. I think a lot of this can be attributed to a once successful but now increasingly obsolete business model.
It’s not just due to Amazon. Labor costs are just too high for a lot of these bricks and mortar stores.
Ping and a prayer for those people.
Look for the communists to trumpet this from the rooftops as absolute proof that “Trump’s economy is falling apart.”
Buy local folks.
The extra buck or two on most of the things you need are not going to kill you.
And when you need something today that local store will still be there providing a living for the owner and his employees that live in your area.
Bluestone Coal hiring 250 employees at mines across southern W.Va.
http://www.freerepublic.com/focus/f-bloggers/3661547/posts
Hino hiring continues in Wood County (West Virginia)
http://www.freerepublic.com/focus/f-bloggers/3657335/posts
Company to build ethane storage facility (100,000 jobs in Ohio, West Virginia, not the Chinese deal)
http://www.freerepublic.com/focus/f-bloggers/3607504/posts
Denmark company bringing 150 jobs and new plant to Ranson, W.Va.
http://www.freerepublic.com/focus/f-bloggers/3606091/posts
[Many of these retail outlets are getting crushed by Amazon. I think a lot of this can be attributed to a once successful but now increasingly obsolete business model.]
Some businesses have a life cycle, and that’s it. Computers used to be run by cards with data entered by keypunch operators. Those jobs are gone and were replaced by direct data entry.
Brick and mortar has the same kind of writing on the wall.
Never heard of it.
Gerald Celente advised long ago to buy local; bank local, and this is one of the main reasons why. The other is avoid feeding the (globalist)beast, so to speak.
As each year goes by, I can see how right he was.
“The extra buck or two on most of the things you need are not going to kill you.”
Maybe we’re all just tired of not finding thing in these stores. Retail executives SUCK at retail.
Stores carry limited inventory to the point they run out. Retail executives are incentivized to carry zero inventory.
Wholesalers also now take all the profit so that retailers have no profit in carrying inventory. Retail profit on many items is near 0% anymore. 5% markup is now considered good. It used to be a 100% markup so that retailers could afford to buy and carry inventory. Not any more. Too risk adverse and not worth the risk of loss.
Big fan of going “local”, but there are scammers here too. Browse local farmers markets for locally sourced products and one will find many “local” products imported or resale, often with big markup.
same here. never heard of these stores until now..
Stores carry limited inventory to the point they run out. Retail executives are incentivized to carry zero inventory.
It is hard to carry inventory if you don’t have the sales volume to support your inventory.
Maybe it is a chicken and egg thing. But if you don’t patronize the store it won’t be there very long.
That’s discouraging.
I will take a closer look at what and whom I buy from then.
The globalists are conniving little rats, aren’t they?
Did Dollar General open up nearby? Check that.
The reason for my earlier comment:
Dollar General Commences Hiring Spree of 7,000 People to Support Growth (Management in 44 states)
http://www.freerepublic.com/focus/f-bloggers/3665372/posts
I bet you anything DG was as much of the reason for these guys failing as Amazon.
We have had two Dollar Trees open near us in the last several years.
When they opened I stayed away——”Not my kind of store.”,said I,——and then one day I moseyed in and fell in love with the place.
Astonishing bargains.
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