Thorntons Selling Eight Stores After Portfolio Review
LOUISVILLE, Ky. — Thorntons Inc. will sell eight of its convenience stores in various regions of the United States, including all three of its locations in Terra Haute, Ind., reported WTHI-TV.
"We believe this is a necessary step to best position the company to achieve our long-term strategic goals," Thorntons said in a released statement. "The sale of these eight stores is consistent with our process of evaluating and repositioning our portfolio each year."
The chain will continue to operate these stores until a buyer is found. Employees at the stores for sale will be able to transfer to another Thorntons location or potentially work for the new owner.
Louisville-based Thorntons currently operates 181 stores in Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida. As CSNews Online previously reported, the retailer plans to spend approximately $700,000 to overhaul all of its stores over the next five years in order to transform its business into a food and beverage destination.
The renovations are meant to shift focus away from the gas pump and toward the store itself. A major change is the addition of a kitchen in the middle of the store, where employees prepare fresh sandwiches for breakfast and lunch.