Waverly to shut remaining retail stores
December 7, 2001,
New York — Waverly will close the last two of its seven Waverly Home retail home furnishings stores by the end of the year.
The company opened its first unit in Greenvale, NY, a suburban Long Island community in July 1996, and followed it with two additional units that year in Princeton, NJ and Morristown, NJ. Four additional units were opened later.
The decision to close the stores, said Gerald W. Puschel, CEO of F. Schumacher & Co., Waverly's parent, reflects "the significant growth potential for Waverly in the marketplace and our interest is to work with those retailers who are committed to the growth of the brand. The brand is supported by strong and growing distribution channels, which are where we want to focus our resources."
The stores, he added, contributed to a heightened awareness of the Waverly brand. The two stores yet to close are in Greenvale and Princeton.
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