Spokesman Gregg Perry said he did not know when the Main Street store would close but a worker at the store said she’d heard it would close Feb. 15, one day after the Valentine’s Day holiday.
“There will still be three stores in Rhode Island, in Cranston, Newport and Providence,” said Perry. All EG employees will be offered other positions, he added. The jewelry company is based in Cranston.
The new distribution center is due to open in the spring and will serve as the main “product fulfillment center” for the company’s retail stores, online sales and retail partners. Alex and Ani joins Toray Plastics, which also leases space from Bostitch.
The store on Main Street opened in 2011 and was an instant hit. The first couple of Decembers, the store employed a valet car service, so customers did not have to worry about finding a place to park. This is not the first time Alex and Ani has leased warehouse space in East Greenwich. For a time in 2012-13, the company leased space at 461 Main St.
What does all this mean for any tax revenue coming to the town? Probably a net gain, but nothing substantial. Losing the store means a dip in the property taxes paid by the owner of the building – on the store’s furnishings. The owner will still need to pay taxes on the actual property. Sales tax revenue goes to the state, so no loss to the town there.
Bostitch is still paying property taxes on its South County Trail property. Anything Alex and Ani brings in as furnishings will also be taxed by the town.
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