ALCO Stores, Inc. today announced that the company will move its central offices from Abilene to Coppell, Texas, a suburb of Dallas. The corporate headquarters move does not affect the ALCO store or the Distribution Center in Abilene.
In making the announcement, Chief Executive Officer Rich Wilson said, “While ALCO has been located in Abilene since the inception of the company, today’s challenging business climate and highly competitive retail landscape require that we locate our headquarters in a metropolitan center. The Dallas location provides easy access to many of our stores, other major retailers and transportation for our employees and business partners.”
“Retailing today requires fast response, constant innovation, and deep commitment from our vendor partners. Locating the company in a more accessible location for our vendors is critical. In addition, our ability to attract and retain executive level leadership will be enhanced in the Dallas area,” Wilson added.
Wilson emphasized that the decision does not reflect on the town of Abilene.
“This was an extremely difficult decision, which is by no means a reflection on the
dedication, commitment or talent of our existing employees in Abilene. It is a decision that is necessary for ALCO to remain competitive and grow.”
The transition of the central office will take place during the month of June. Some employees will move with the Company and some positions will stay in Abilene for a longer period of time. Severance and outplacement services will be offered to all affected employees.
“We know this will have a major impact on our associates and the community in Abilene,” said Wilson. “Many of our associates have spent much of their careers here and we want them to know how very much we appreciate that. Our employees and the Abilene community have been extremely supportive of this Company. Change is never easy. However, change is necessary in order to grow and move forward.”
As previously announced, the Company will consider the feasibility of adding a second distribution facility to lower freight expense and better serve its store network, but no change is anticipated for the balance of the year.