by Wolf Richter, Wolf Street:
Lowe’s finally seems to get the brick-and-mortar meltdown.
Orchard Supply Hardware – whose mission was, according to its site, “to be America’s neighborhood hardware and garden store focused on paint, repair, and the backyard” – is an iconic name in California going back to the Great Depression when it started as a non-profit co-op to supply farmers. But now it’s scheduled to die.
Its 98 stores in California, Oregon, and Florida will be closed, along with its distribution center in Tracy, California. Its 4,000 employees will be let go. Liquidation sales start Thursday.