REX Stores Exiting Retailing |
Thursday, April 16, 2009 1:01:10 PM - Middletown Ohio |
By: Tara Kunkle
The Middletown REX Store Corp. will be remaining open under a different name while around 40 other stores will be closing and leaving the retail business by January. The Chairman and Chief Executive Stuart Rose of REX said in an interview with the Middletown Journal that the management decided to close the stores because of a tough economy and because the stores no longer generated adequate returns even during the crucial Christmas selling season.
They are not sure how many people will be losing their jobs when the company closes the stores but they will be trying to give as many people that they can jobs with the company that takes over the stores. There were around 40 stores including the one in Middletown that will be leased to Appliance Direct Inc. which is Melbourne, Florida based retailer. In order for everything to happen the store will be closing for a short period of time and will be reopening in May with the new Appliance Direct name.
The store will only be selling major appliances not other electronics like TV’s. Douglas Bruggeman said REX plans to honor customers’ warranties and will service them at the corporate office at 2875 Needmore Road in Dayton.
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