Correction: Torrance, Calif., store to remain open
A new Orchard Supply Hardware store in Torrance, Calif., will remain open, while a Torrance store on Pacific Coast Highway will close.
Previously, HCN reported that the Orchard Supply store located on Hawthorne Boulevard, which opened last year, will be liquidating its inventory as part of OSH’s bankruptcy filing.
A memo was circulated by Orchard Supply correcting the initial report in local media outlets and highlighting the going-out-of-business sale currently taking place at the Pacific Coast Highway location.
One year later, Torrance OSH store closes its doors
The store was one of 17 Orchard stores that was passed over by Lowe’s in its recent buy-out deal. The Torrance store, as well as 16 other low-performing Orchard locations in California, are in the process of liquidating their inventories.
“Orchard is closing these locations as part of its Chapter 11 (bankruptcy) filing process,” spokeswoman Leigh Parrish told the news source. “They looked at the performance of the (Torrance) store even over a short time period. It did not fit within their repositioning and growth strategy.”
The 50,000-sq.-ft. store initially opened Sept. 1 last year with a redesigned look and a race-track configuration that streamlined traffic flow, as well as an expanded customer service area and a large paint and nursery section. According to the Daily Breeze, Torrance Mayor Frank Scotto referenced the store opening as a promising sign of economic growth in his yearly State of the City Speech last May.
“We believe our formula will enable Orchard to ‘own’ the neighborhood market for home repair and maintenance, painting and especially backyard living," said president and CEO Mark Baker in an announcement of the store opening last fall.
The Daily Breeze reports that many people, including store employees, were unaware of the decision until very recently.
The store began its going-out-of-business sale Wednesday.
CORRECTION: Orchard Supply has issued a notice that its Hawthorne Blvd. location will remain open, while its Pacific Coast Highway store in Torrance will close.
House-Hasson’s Moore-Handley deal takes final step
It’s official: The House-Hasson Hardware acquisition of Moore-Handley is in the books.
The final asset disposition remaining from the 2009 deal that brought the former hardware distributor Moore-Handley into the House-Hasson fold has been completed.
Summer Classics furniture has bought the former Moore-Handley building in Pelham, Ala. Summer Classics have said plans call for consolidating the company’s manufacturing and product storage operations in the building, as well as adding a new 10,000-sq.-ft. showroom.
The 428,000-sq.-ft. building and adjoining 18 acres came under House-Hasson’s ownership in October 2009 when it acquired Moore-Handley following that company’s bankruptcy.
On July 25, 2013, House-Hasson sold the building to the city of Pelham, and it was then sold to Summer Classics for $3.275 million.
“We’re very glad that the building will be used in a way that benefits the people of Pelham,” said Don Hasson, House-Hasson Hardware’s president.
House-Hasson Hardware serves some 2,000 independent hardware stores and lumberyards in 17 states and the Caribbean.