SmithAndHawken

Target Buys Smith & Hawken

Filed under: Decor

Last summer garden and outdoor entertaining company Smith & Hawken went through a rough time. Corporate parent Scotts Miracle-Gro Company said that it would call in the liquidators for its 56 stores unless the brand was sold. Now comes the news that Target has acquired the Smith & Hawken brand and other intellectual property from Smith & Hawken. Target already sells Smith & Hawken's outdoor furniture and other lines. Financial terms of the deal weren't disclosed but Scotts had bought Smith & Hawken for $68.5 million in 2004.

Tags: smith and hawken, smith hawken, SmithAndHawken, SmithHawken, target

Will Smith & Hawken Be Liquidated?

by Deidre Woollard (RSS feed) —

Popular garden and outdoor entertaining company Smith & Hawken has been struggling lately. Now Reuters reports that the company will call in the liquidators for its 56 stores unless its corporate parent Scotts Miracle-Gro Company reaches a last minute deal with potential buyers. Scotts bought Smith & Hawken for around $70 million in 2004. The recession has hit the company hard. Financial statements reveal that sales were down 22 percent during the first two quarters of the current fiscal year. Reuters sources say that the 700 employees of the company will be notified soon if no deal is reached. If the company is not bought out, then the going-out-of-business sales could start as soon as the end of the week.

UPDATE: Scotts Miracle-Gro has announced that it will shut down Smith & Hawken. All of Smith & Hawken's 56 U.S. stores will be shut down by the end of the year and the website and call center will stop taking catalog orders immediately.

Source

Tags: liquidation, smith and hawken, smith hawken, SmithAndHawken, SmithHawken, stores in trouble, StoresInTrouble