Details - Information last confirmed on November 23, 2020
COVID Impact Statement recovery from the COVID-19 shutdown, ownership expects construction to return to previous levels over the next three to six months. As a result, sales are anticipated to return to at least pre-COVID levels. The shelter-in-place period was used for cleaning and improving facilities, training to increase the skills of sales associates, and reviewing business processes.
In the short run sales may be negatively impacted by social distancing, face masks, cleaning protocols, etc. but ownership does not expect it to last.
The owners are monitoring their supply chain. They have not seen shortages yet and suppliers are striving to diversify their manufacturing without increasing costs unnecessarily. Meanwhile, the Company is maintaining high inventory levels to serve its loyal customer base.
The Company is financially solid and does not anticipate any issues with its line of credit. Ownership feels that their end-users, commercial and residential customers, are eager to spend and they anticipate a V-shaped recovery
This business markets and distributes electrical supplies and related fixtures from multiple wholesale and retail locations in the lower peninsula of Michigan. The Company’s primary goal is to operate for the benefit of all stakeholders including customers, vendors, employees, and stockholders. This is achieved by striving to offer the highest quality products and services at prices that provide the most possible value.
Over its long history, the Company has prospered via its commitment to being reliable, honest and fair-priced, and by offering a comprehensive (one-stop) catalog of products.
The majority owners of the company, now in their 70’s, would like to divest the business and retire.
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