Lifetime Brands Closing All 53 Stores

Kitchenware, tabletop and home décor products merchant Lifetime Brands announced Monday it will close all of its remaining 53 stores, including 39 Pfaltzgraff factory stores, eight Farberware outlet stores and six clearance stores.

The Garden City, NY-based company, which will continue to operate its Internet and catalog businesses, has agreed to a joint venture with Gordon Brothers Retail Partners and Hilco Merchant Resources, to manage and operate inventory clearance sales at the stores.

The clearance sales will run through the end of this year. Lifetime has also entered into an agreement with RCS Real Estate Advisors to handle terminating the leases for the stores.

“Despite the many actions we have taken to streamline and improve the operations of the retail stores, in today’s difficult retail environment they have continued to encumber our company’s earnings,” said Lifetime Brands chairman/president/CEO Jeffrey Siegel. “In addition to eliminating this burden, today’s actions will enable us to focus our efforts on growing our core wholesale business.”

Lifetime Brands also plans to close its York, PA, distribution center next year. The company earlier this year opened a 753,000-sq.-ft. fulfillment facility in Fontana, CA.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.