The retail chain Quality Farm & Fleet and Central TractorFarm & Country is having liquidation sales at all its 153stores in 10 states, including three in the Twin Tiers.
Store-closing sales have begun at the chain that was forced intoinvoluntary bankruptcy by investors who purchased Quality Farm& FleetÞs parent company.
Officials have said actual store closings will hinge on howquickly liquidation sales clear shelves. Product categories includeagricultural products, animal health and feeds, home improvement,hardware, electrical, plumbing, lawn and garden, truck and trailer,energy and clothing.
Also, upwards of 85 of the stores could reopen sometime under anew format.
Quality Farm Stores Inc. of Muskegon, Mich., the former parentof the chain, is closing the stores as part of a buyout by fourinvestor groups, namely, Tractor Supply Co., Great American Group,Gordon Brothers Retail Partners, LLC, and DJM Asset Management,LLC.
Mike Borrello, manager of the Quality Farm & Fleet store inAllegany, said Thursday he heard last week about the plannedchain-wide closing. ßI was surprised,à he said, noting 6 full-timeworkers will lose their jobs. Thursday afternoon the staff waspreparing to place a liquidation-sale sign in its window.
In Salamanca and Wellsville, a total of 41 full- and part-timeworkers will lose jobs.
Jamie Riley, manager of the Quality Farm & Fleet store inWellsville, said, ßHopefully, a couple will reopen. I know thefarmers could use it.à
Other stores closing in the region are in Arcade, Batavia,Canandaigua, Dunkirk, Geneseo, Hornell, Horseheads, Jamestown andPainted Post.
The four-partner investor group purchased the assets offinancially troubled Quality Farm & Fleet and opted toliquidate the entire inventory at all stores. Three months agoQuality Farm & Fleet announced that an involuntary bankruptcypetition was filed in the U.S. Bankruptcy Court for the WesternDistrict of Michigan in Grand Rapids. The involuntary petition wasfiled by the investor group that was the holder of 10 5/8 percentsenior notes.
ßThe real opportunity here is that farmers, ranchers, anddo-it-yourselfers will find their favorite brands at significantdiscount,à James Schaye, a principal of Gordon Brothers Group,stated in a prepared news release. ßSince many of the most popularbrand-name products will be featured in the sales, we know thestores will sell out very quickly.à
Elizabeth Wicks, a spokesperson for Boston-based Gordon BrothersRetail Partners, said, ßAll the stores are closing as soon asinventory is sold.à She said plans call to reopen 85 of the storesunder the Tractor Supply format.à Exactly which stores will reopenand when is unknown at this time, however.
Joe Scarlett, Tractor SupplyÞs CEO, said, ßWe have beenimpressed with the commitment of QualityÞs knowledgeable storemanagers and sales associates, and the historically strong supportfrom their customers who embrace the rural lifestyle. WeÞre lookingforward to building a strong partnership with a significant numberof Quality employees to help us deliver the finest possibleshopping experience for our customers.à
On Dec. 31, 2001, Tractor Supply operated 323 stores in 28states, supplying the daily farm and ranch maintenance needs of itstarget customers: hobby, part-time and full-time farmers andranchers, suburban customers, contractors and tradesmen. ThecompanyÞs stores are located in rural communities and in theoutlying areas of large cities where the rural lifestyle is asignificant factor in the local economy.
