The company says that it is looking to position itself to "successfully compete in today's changing marketplace." The closings are part of effort to control costs in the company and will take effect by June 8 of this year.
Jerry Engstrand, Butson's vice president and general manager, says that the company looked at the long-term viability of each store and its overall "fit" with the company's strategic objectives. "We examined each store's past performance and future potential," he says.
The company also plans to consolidate its retail pricing and information technology functions at its offices in Mansfield. The company's accounting and administrative staff will remain in its offices here.
Butson's was founded in 1907 and operates 20 stores under the Butson's and Ro-Jack's banners in New Hampshire, Vermont, Massachusetts, Rhode Island and New York.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.