Kelly-Moore shutting down?

[norcalriteaidclerk]

https://www.mercurynews.com/2024/01/12/ ... al-estate/

Unless there's been something that I've overlooked, I clearly didn't see this coming.

[Romr123]

saw some indication that it was because of asbestos claims....odd, though that they are just closing up shop w/o a bankruptcy. Sounds like there was no unallocated money to bother with a bankruptcy.

[storewanderer]

I never bought anything there, but always heard positive things about them from a service perspective.

It seems like someone should be able to assume the stores and go forward with them. I didn't realize they only had 157 stores. I thought they were a larger chain. Maybe they will just disappear.

[jamcool]

Dunn-Edwards would probably take a lot of those locations. I know a lot of paint contractors prefer D-E paint over other brands.

[storewanderer]

Dunn-Edwards would probably take a lot of those locations. I know a lot of paint contractors prefer D-E paint over other brands.

Hopefully they get something figured out quickly and can get the employees on board.

[bryceleinan]

Dunn-Edwards would probably take a lot of those locations. I know a lot of paint contractors prefer D-E paint over other brands.

I was thinking the same thing... Miller Paint was the other possibility.

I know that Kelly-Moore had 4 locations in the Reno/Sparks/Carson area, and were used by quite a few painters here.

However, I will say that Sherwin-Williams was probably eating their lunch too, especially with the Sherwin plant in nearby Fernley.

[storewanderer]

They also had units in Truckee and South Lake Tahoe. I guess all of these were corporate operated, not dealers or something. They do appear to have a dealer program. https://kellymoore.com/professional/authorized-dealers/

I was by the Reno unit on South Virginia tonight and it appears all of the inventory has been removed from view on the sales floor. Not sure if it is in the back room or what. Or they are taking inventory back to their warehouse. There doesn't seem to be information on their website about what is going on.

Maybe some kind of a trick to lay off the tenured employees and open back up with bottom of the wage scale new employees. In this labor market? Good luck.

[Romr123]

In the press release it stated that all retail facilities are leased; that must mean that they are able to sublease or end the leases at the end of the term...

[Romr123]

Dunn-Edwards would probably take a lot of those locations. I know a lot of paint contractors prefer D-E paint over other brands.

I was thinking the same thing... Miller Paint was the other possibility.

I know that Kelly-Moore had 4 locations in the Reno/Sparks/Carson area, and were used by quite a few painters here.

However, I will say that Sherwin-Williams was probably eating their lunch too, especially with the Sherwin plant in nearby Fernley.

Paint is pretty expensive to ship--wouldn't be out of the range of possibility to have a paint plant contract-make paint to a specific formula.

[storewanderer]

In the press release it stated that all retail facilities are leased; that must mean that they are able to sublease or end the leases at the end of the term...

Maybe in another few days it will be more clear what is going on. This doesn't make much sense yet.