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Scotts Miracle-Gro To Shut all 56 Smith & Hawken Stores

Scotts Miracle-Gro will shut down Smith & Hawken, the premium gardening chain that it bought five years ago, the Marysville-based company said yesterday.

Scotts said a year ago that it was considering options for the chain, which has struggled during the recession.

Scotts paid $58 million and took on $14 million in debt in 2004 for Smith & Hawken, which sells high-end lawn furniture, garden tools, gardening clothes and accessories.

All of Smith & Hawken's 56 U.S. stores, including the Easton Town Center location, will be shut down by the end of the year. Seven hundred workers will lose their jobs.

Outside consultants will manage the closing, which will begin with storewide sales today. The Smith & Hawken Web site, catalog and call center will stop taking orders this morning, but the company didn't provide a specific time.

Link.

CityBiz Real Estate has a look at how this will affect the Baltimore and Washington D.C. markets.

Bankruptcies and Liquidations:

Potential Bankruptcies & Liquidation Impact: 1,526 confirmed closures out of about 3,422 stores

Announced Closings

Total Closings: up to 1,600 U.S. stores

Potential Impact of All Announcements to Date: 3,126 closures out of up to 5,022 potentially affected U.S. stores

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