The Hudson family of furniture stores has been closing stores as part of a $20-million buyout deal, according to multiple media reports.
The announcement by the Hudson family in a letter to employees Wednesday said that they would shut down the company in 2019, and that employees will have to relocate from Hudson to new locations.
The company’s stores, which are part of the Macy’s chain, have been a part of Hudson’s identity since it opened in 1979.
Hudson also operates a number of stores in New York City and Chicago.
The sale is being done through an entity known as the Hudson’s End Corp., which is owned by a Delaware corporation, the letter said.
The Macy’s Group and Hudson’s parent company, Hudson Inc., were not immediately available for comment.
The Hudson’s end chain stores are the largest chain of discount department stores in the United States, according the company.
The news comes less than a month after Macy’s announced a similar deal with the Hudson Family.
The move comes as Macy’s also announced plans to sell about 1,500 of its U.S. locations to online retailer Amazon.
The purchase of the Hudson stores will bring the number of Macy’s stores in Hudson to just over 20,000.
Macy’s has also announced it will close stores in Florida, Ohio and New Jersey.
The new Macy’s deal with Hudson is expected to close sometime in 2019.
The family’s Hudson stores have a history of making money for the company and, in the past, have earned Macy’s a lot of praise for their service.
Macy says the buyout is part of its overall strategy to grow in a digital era, but that the move to sell off the stores is part-and-parcel of its efforts to create a more diverse and inclusive environment.