Smith & Hawken to shut down - Sacramento Business Journal:

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Storewide sales for the Novato-basedc Smith & Hawken chain will begin Thursday and will be managecd by anoutside firm. Orders on Smith & Hawken’es web site, catalog and call centerf havebeen discontinued. Smith & Hawken has only one locatio n in the Sacramento in Roseville. Jim Hagedorn, CEO of the Ohio-based Scotts, said in a statement that “the combinatiobn of a weak economy and the lack of scalde proved too great to Fora year, Scotts had been explorinv options for the high-end garden brand it boughy in 2004 for $68.
5 million but decided closing the businesz was the “best option available,” Hagedorn The company in its last annual reporrt said the chain has consistentlyt underperfomed since it was acquired. “corporate and other” segment, which consistds of Smith & Hawken and administrative posted a 23 percent decline in saleeat $51.2 million for the six months enderd March 29. That segment’s operating loss for the six-montuh period totaled $75.4 according to filings. Scotts expects to take a $25 million after-ta x hit on the closure of the chain, mainly tied to terminatec leases andseverance costs.
Most of those the company said, will be taken on by the end of the In the yearended Sept. 30, 2008, Scottsx (NYSE:SMG) lost $10.9 million on $2.987 billion in revenue. The company has about 6,400p full-time workers worldwide. In the Bay Smith & Hawken has stores in Mill Valley, Burlingame and Walnut Creek.