Pounded by the competition, Frank's Nursery set to close (2.800 jobs)

[Bozita]

http://www.freep.com/money/business/franks9e_20040909.htm

Pounded by the competition, Frank's Nursery set to close

BY JEWEL GOPWANI
FREE PRESS BUSINESS WRITER

September 9, 2004



Before there was Home Depot for shovels and mulch, before there was JoAnn Fabrics for thread and ribbon, there was Frank's Nursery. For decades, Frank's symbolized the neighborhood gardening and craft store.


But the 55-year-old Troy-based company -- with 33 outlets in Michigan -- that was once ahead of its time in the business may have died of old age. Frank's Nursery & Crafts Inc. announced Wednesday that it will file its second bankruptcy in three years and go out of business.


Frank's cited a weak economy, bad weather and fewer customers as reasons for the losses it has experienced since emerging from its first bankruptcy in 2002.


The company employs about 2,800 people at 169 stores in 14 states.

more...

[Moderator]

1. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=812099