Reply #5: Retail ... meanwhile ... as April rolls in ... over at Gateway ... [View All]

[cosmicdot]

Gateway to Close Retail Stores, Cut Jobs

Gateway Inc. announced Thursday it will shutter all of its retail
stores next week, eliminating 2,500 jobs, or nearly 40 percent of its
work force. The company, based in the San Diego suburb of Poway, said
its 188 stores will close on April 9 and workers will be dismissed as
the store operations wind down.


April 2, 2004 04:44 AM EST


SAN DIEGO - Gateway Inc. completed its acquisition of eMachines Inc.
last month, promising quick answers to three questions: who would run
the troubled computer company, where its corporate headquarters would
be, and what would happen to its money-losing stores.

It answered all three in the last week, culminating Thursday with
news it will close all of its 188 stores next week. The move will
eliminate 2,500 jobs, or nearly 40 percent of Gateway's work force.

"Our stores have been a source of pride for Gateway since the mid-
'90s, but despite enormous effort we haven't been able to run them
profitably," Ted Waitt, founder and chairman, wrote Thursday in an e-
mail to customers.

~snip~

The Gateway stores will all close April 9. The company will launch an
inventory sale on Saturday.

http://start.earthlink.net/newsarticle?cat=1&aid=D81MJBQ80_story