Hackett’s announces two store closings

Hackett’s Stores Inc., the 10-store department store/hardware chain based in Ogdensburg, N.Y., is in the process of closing two of its locations, parent company Seaway Valley Capital Corporation reported.

Hackett’s closed its store in Pulaski, N.Y., March 28, and is liquidating merchandise at a 56,000-square-foot Watertown, N.Y., site in anticipation of a June closure. 

The decision -- motivated primarily by Hackett’s need to accelerate the repayment of its senior line of credit -- was also influenced by the weaker economy and the desire to focus operations, the company said. 

Hackett's CEO Thomas Scozzafava said that closing the stores will allow his company to devote more time and capital to Hackett’s remaining operations and to possible new stores in more strategic locations. “Hackett’s will still work to open new stores, with a particular focus on Lake Placid and Queensbury, but we absolutely must deal with the situation in front of us first,” he said. 

The company operates eight other Hackett’s department stores, most of which include large True Value Hardware departments. 

Hackett’s signed a lease for a Lake Placid location in September, which is good through February 2016. In the summer of 2008, Hackett’s opened stores in Gouverneur, N.Y., and Canton, N.Y. Hackett’s, one of the nation’s oldest retailers, has been operating since 1830.