In a stunning announcement to the Toledo area, The Andersons Inc. said on Sunday that it would close its two local general stores and two stores in Columbus in the spring, ending jobs for 1,050 employees, writes Jon Chavez on ToledoBlade.com.
The Monclova Township company said it would end its money-losing retail business between April and June. The retail unit was begun in 1952 by the agribusiness that has $4.2 billion in revenue. But the stores pulled in just $140 million of that in 2015.
The company plans to liquidate its merchandise in the spring and sell the stores. It is unclear how the liquidation will take place. The shutdown does not affect the grain, ethanol, rail, or plant nutrient parts of The Andersons.
Store employees were told of the news at mandatory meetings Sunday and promised severance packages and help with job hunting. At the Talmadge Road store, employees leaving the meeting looked glum, with most grasping a leaflet explaining the situation.
A company official asked that the employees be left alone to process the situation. “This is the worst day,” a human resources official said.
“The decision to close The Andersons stores was not easy for anyone involved,” company Chief Executive Officer Pat Bowe said on Sunday.