MPG to close retail locations
PRESQUE ISLE — Officials with Maine Potato Growers, Inc. announced yesterday the closing of their two retail store operations in Presque Isle and Houlton. The Ace™ Hardware store and the MPG Houlton store will close its doors officially by July 15 of this year.
“The decision to close the stores has not been easy due to the impact the closure has on our employees, our customers and the communities we serve,” said President and Chief Executive Officer Pierre Patenaude.
MPG has operated a retail hardware/farm store in Presque Isle since 1964. The new Ace™ branded store opened in 2007. MPG’s Houlton store opened its doors in the early 1980s.
“We are very grateful for the customer support we received at both locations over the years,” Patenaude said. “It has been very difficult to compete in today’s retail environment following the 2008 recession and the added competition in our area.
“In order to maintain an edge in today’s competitive market, it is necessary to focus resources and energy on our divisions that return positive results for our membership,” he said.
The closing of the retail stores follows the sale of MPG’s retail Petroleum division last October.
“Today’s announcement is aligned with our strategy to focus on the commercial agricultural industry,” said Patenaude. “This will strengthen MPG’s core divisions and provide opportunities for growth.”
The closure is expected to result in overall MPG revenue decreases of 8 percent, but should improve the cooperative’s bottom line.
Information on how many MPG employees, if any, will lose their jobs in the closings was not available at pressstime.
