A.J. Wright shutting 71 stores

A.J. Wright shutting 71 stores

A.J. Wright is closing 71 of its stores, according to the parent company, TJX Cos. Inc., including one on Central Avenue in Albany, N.Y.

The Framingham, Mass.-based discount clothing and home accessories retail chain (NYSE: TJX) did not disclose what would happen to the remaining two A.J. Wright stores in the Albany, N.Y., area.

A total of 4,400 jobs — about half are part-time — will be cut through the 71 closures. The closings are set to take place in late January and February.

All 162 A.J. Wright discount stores will close by mid-February, 91 of the stores will be converted to the company’s other brands, which include T.J. Maxx, Marshalls and HomeGoods. A company official declined to say what would happen to the remaining two A.J. Wright stores in the Albany, N.Y., area.

Also closing are two distribution centers and the A.J. Wright home office.

The company president, Carol Meyrowitz, said the move will make it more profitable.

“While I believe this move makes us a much stronger company and will benefit TJX in both the near-term and long-term, it was not an easy decision as many positions will be eliminated and it will be difficult for our affected associates,” she said. “As a company, however, it will allow us to focus our financial and managerial resources on our highest return businesses, all of which have significant growth opportunities, as well as to significantly improve the economic prospects of our business.”

Boston Business Journal

Leave a Reply

Your email address will not be published. Required fields are marked *

Compare