OLEAN, NY – The Valu Home Center on West State Street is one of three Valu stores slated for closure, the company announced Tuesday.
“This was a difficult and emotional decision for our family because we have operated these stores for many years in communities that we have come to know and love.” Valu Home Centers president and CEO Michael Ervolina Jr. said. “And while our remaining 38 locations are strong, it was important to make this decision in order to keep our business healthy well into the future.”
According to a Valu news release, the company is refocusing resources toward its online platform because of changes in consumer buying habits. Valu recently launched a new online format, and the company expects to expand its online product offering into the hundreds of thousands of items.
”We are excited for the future,” Ervolina said. “This move will allow us to invest in the many new programs and initiatives we are working on for 2020 and beyond.”
In addition to the Olean Valu, stores in Painted Post, New York, and Warren, Pennsylvania, are scheduled to close. As part of the store closures, liquidation sales will start on Monday at 8 a.m. at each of the three locations. All merchandise will be marked at 25% off. A final closing date has not been set. Employees at the three stores have been offered positions at any of the other 38 Valu locations.
“We have an amazing team at each of these locations, and we want to ensure that they have the opportunity to continue as part of the Valu family,” Ervolina said. “We are a strong family owned and operated company, headquartered in Buffalo, New York, that carries zero debt. This is one of the key factors that has allowed us remain successful for 51 years.”
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