Faced with slumping sales, Oneida Ltd., which for 129 years has been selling flatware, dinnerware, cookware, kitchen tools and cutlery to consumers and the food service industry, is closing its 20 factory outlet stores in the U.S.
But the multichannel merchant will continue to sell merchandise through its print catalog and Website.
The company has retained global advisory, restructuring and investment firm Gordon Brothers Group to manage and operate inventory clearance sales. DJM Realty, the real estate affiliate of Gordon Brothers, will handle the disposing of the leases.
Oneida Ltd. on Jan. 9 began holding inventory clearance sales at its 20 outlet locations in North America. The company says it plans to reopen two distribution centers in Sherrill, NY, and Niagara Falls, Canada, later this year as clearance centers. Oneida closed its distribution center in Sherrill in 2006 as part of a bankruptcy reorganization plan.
Oneida says it will keep its European outlet stores open. The company’s foodservice, international and consumer wholesale divisions, as well as other units of its consumer direct business, will continue to do business as usual.