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Pikes Nursery up for auction

Discussion in 'Nurseries and Growers' started by dave k, Feb 25, 2008.

  1. dave k

    dave k LawnSite Bronze Member
    Messages: 1,177

    Well the drought has taken another nursery down, this time Pikes which is a large nursery in the Atl. area.
    Maybe this is just the tip of the iceberg of things to come and to continue.
  2. TScapes

    TScapes LawnSite Senior Member
    Messages: 453

    Hey Dave, I heard they filed for bk this past summer, but only closed a few locations. Are you saying that they are now selling and getting out all together? That would be a huge loss for such a popular nursery in that market! Granted for the wholesaler, it wouldn't hurt us, but for the retail customer.... this would suck simply because they are literally on every corner!!
  3. dave k

    dave k LawnSite Bronze Member
    Messages: 1,177

    Yes, they were auctioned off today, they had several players in to bid on them, but names were with held. I agree with you, big loss.
  4. TScapes

    TScapes LawnSite Senior Member
    Messages: 453


    This is the latest I heard of this deal:

    Pike’s Still Hanging On

    All week we have been waiting to hear what happened to Pike’s. Who bought it, what’s next, is this the next Frank’s? Well you have waited long enough. I saw this in the Atlanta Journal-Constitution this morning.

    Pike’s proposed new owner, Armstrong Garden Centers, will:

    •Keep the Pike name and operate 15 Atlanta stores.

    •Honor gift cards once the sale is finalized.

    •Retain Pike’s 400 local employees.

    •Keep stores open through the sale process.

    •Continue to operate as an employee-owned, California-based nursery company.

    If a sale of the Norcross-based garden chain is approved by a bankruptcy judge, all 15 metro Atlanta stores will get a new lease on life, remain under the Pike name and 400 Pike employees will keep their jobs. Currently, there are 500 to 700 employees, including those at garden centers and seasonal workers. If the deal is approved, all outstanding gift cards, to the tune of about $800,000, will be honored by Pike’s new owners.

    I guess the next step is to see if the deal goes through and how this will help improve the financial status of the Pike’s stores.

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