The Bluefield Daily Telegraph’s website, bdtonline.com is reporting that Ammar’s, Inc., the parent company of the regional Magic Mart chain, has notified its employees that all of its stores and offices will be closing.
The company has delivered WARN, or Worker Adjustment and Restraining Act, letters to its employees.
A copy of the letter obtained by the Daily Telegraph says the reason for the closure is continued inadequate sales leading to financial losses.
According to the paper’s report, the company will be providing employees with additional information, including benefits, over the next several weeks.
Ammars, Inc., operates a number of Magic Mart stores in the region, including stores in Welch, Tazewell and Beckley. The company headquarters and warehouse is located in Bluefield, Va.
Magic Marts are also located in Pulaski and Galax.
According to the Magic Mart website, Ammars Inc. is a family-owned company and regional retail business based in Bluefield, Va., and doing business in four states for almost 100 years.