Apr 11, 2014 at 4:50 am
WEST FARGO, N.D. (AP) — Titan Machinery says it is closing eight construction stores across the country.
The company based in West Fargo, North Dakota on Thursday cited a slow recovery in construction sector among the reasons for the move, which will leave 128 people unemployed.
The stores being closed are located in Clear Lake and Oskaloosa, Iowa; Cheyenne, Wyoming; Flagstaff, Arizona; Rosemount, Minnesota; and Helena, Bozeman, and Big Sky, Montana. All locations will cease operations by the end of April.
The company sells and rents agriculture and construction equipment. CEO David Meyer says the decision will help the company improve its pre-tax profits.
The company says affected employees will receive benefits and severance package and the option to apply for jobs at nearby stores. Titan Machinery will continue to operate 96 stores in the U.S.
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