A&N Stores Inc., the athletic footwear and sportswear retailer, plans to close all 48 of its stores in Virginia after nearly 140 years of operation.
The family-owned company announced the closure Friday, the same day that a liquidation sale began at the 48 A&Ns throughout the state. A&N – once called Army-Navy Supply – opened in 1868 in downtown Richmond as a dry-goods store, changing its focus to military surplus after World War I and later to casual attire. According to a statement, it eventually became known as the “go-to” retailer for those seeking affordable casual shoes and footwear. In recent years, it added the tagline, “A&N Your Athletic Outfitter” to mark its focus on athletic shoes.
“A&N Stores has been a Virginia tradition since 1968 and it is with much regret that we announce its closure. This decision was made after careful reflection and with great consideration and care,” said Thomas J. Dillon, A&N Stores attorney and spokesman in the statement.
The company, based in Richmond, blamed increased competition from big-box retailers, slowing sales and changing consumer trends for the decision.
Before moving to liquidate, the Sternheimer family aggressively pursued other alternatives, including the sale of the business. A sale was being negotiated to a New York investor group during the last quarter of 2007, but fell through in early January 2008.
“The company will move forward immediately with an orderly wind-down and liquidation process, working closely with its employees, landlords and vendors,” said Dillon. Liquidation sales began Friday at 60 percent off regular prices.
A&N employs about 48 full-time people at its 48 stores throughout Virginia, including at a Richmond warehouse and home office. The company is offering employment counseling and outplacement services and severance pay to warehouse and home-office employees who are laid off.
Of the stores, 13 are in the greater Richmond area, 16 in the Hamptons Roads areas and the remaining 21 in the western part of the state.
