Week Winds to a Close with No News of Commerce's
Future (from IGC Retailer)
Baltimore - As the industry winds down this last week before Christmas, the much-anticipated announcement of the future of Commerce Corporation has not materialized. Richard Lessans had promised “big news,” but when reached at home, said, "At this point, the only fact is that I am sick in bed with pneumonia.” IGC retailers have been anxious since last week’s announcement from True Value to their dealers that Scotts had dropped Commerce as a distributor. Other major vendors followed, cutting ties with the Baltimore-based company. Many retailers have voiced concern about getting their spring hard goods orders delivered as a result.
Garden advice you can dig!
Is there any new news on Commerce?
ReplyDeleteAs of this date there has been no updates on the Commerce situation. According to my sources HR was supposed to make some kind of announcement today to Commerce employees but that was also supposed to happen Wednesday..................
DeleteMy guess would be that because the announcement that was to have been made Wednesday did not happen I would guess that financing fell through and they are back at square one..........
The question remains what would buyer get? Debt and warehouses full of product. This would not benefit anyone already distributing in the east. They are shipping as I have received goods this week and have another major birding order coming next week.
So, I assume I will get my product in the next few weeks but that Commerce as a company may no longer be..? Who would buy a company with so much debt in this day and age??
DeleteThey better make a decision pretty soon before all their major customers move to alternative distriubutors. Wait till Richard hears who's leaving his fold.
DeleteCommerce is shipping goods.............for how long who knows. You are correct on the debt.
ReplyDelete