Andersons exits the retail business

Maumee, Ohio-based The Andersons Inc. is closing its retail division, which operates four Ohio big box stores with a heavy home-improvement focus and the slogan: “A Store Like No Other.”

The diversified company will continue to run its grain, ethanol, plant and rail operations, but it will exit the retail business and close its remaining four stores in the second quarter of 2017, the company announced.

Two of the stores to be closed are located in the Toledo area (including a Maumee store), the others are in the Columbus area.

The company’s original Warehouse Market opened in Maumee in 1952. Today, the stores measure about 140,000 square feet and carry 125,000 SKUs.

During the past eight years the company’s retail group has incurred pre-tax losses, including previous asset impairments, in excess of $20 million and closed three stores.

"The decision to close The Andersons stores was not easy for anyone involved," said CEO Pat Bowe. "Choosing to cease a business that has spanned 65 years and employs about 1,050 people is tremendously difficult."

The closing will eliminate approximately 650 positions in the Toledo area and 400 positions in Columbus, of which approximately 75% are part-time positions.

Product lines in the Andersons retail empire ranged widely, and the moniker “General Store,” was often used to describe the operation. Store departments include food, automotive and footwear, as well as home projects, tools and hardware and outdoor living.