REPORT: Orchard Supply closing is a big hit to Bay Area
Lowe’s decision to close the Orchard Supply Hardware chain is expended to send deep ripples through the San Francisco Bay Area, according to a report by The Silicon Valley Business Journal.
More than 1,450 local jobs are expected to be lost along with the closing 30 retail outposts in the nine-county Bay Area.
Altogether, 99 Orchard Supply Hardware stores will be closing by the end of 2018.
The move was revealed by Lowe’s and CEO Marvin Ellison last month. The company decided it was time to focus on its core home improvement business.
While the closings will be an initial hit to Lowe’s, most Orchard Supply stores are leased. Once closed, and the lease obligations are taken care of, the business won’t be a hit to Lowe’s books.
Most of Orchard Supply’s locations are in California, with some in Oregon and Florida. Of the 3,900 California-based employees expected to be let go, about 40% live in the Bay Area.
More than 1,450 local jobs are expected to be lost along with the closing 30 retail outposts in the nine-county Bay Area.
Altogether, 99 Orchard Supply Hardware stores will be closing by the end of 2018.
The move was revealed by Lowe’s and CEO Marvin Ellison last month. The company decided it was time to focus on its core home improvement business.
While the closings will be an initial hit to Lowe’s, most Orchard Supply stores are leased. Once closed, and the lease obligations are taken care of, the business won’t be a hit to Lowe’s books.
Most of Orchard Supply’s locations are in California, with some in Oregon and Florida. Of the 3,900 California-based employees expected to be let go, about 40% live in the Bay Area.