Small retailer with devoted fans is closing its doors

A New England-based retailer that has the distinction of being the first curtain catalog company is closing up shop.



Shareholders of The Fitzpatrick Companies, whose subsidiaries include Country Curtains, voted Wednesday to liquidate the 61-year-old business. Country Curtains will begin liquidating operations immediately, and a going-out-of-business sale will be launched in its 19 retail stores (and website) starting on Oct. 5. The stores will close by the end of the year.



Country Curtains has been struggling, challenged by online and other pressures. Its turnaround attempts, which included bringing in a new CEO, failed to take hold.



“This has been a heartbreaking decision, but in sharing the background and facts with our shareholders, it was clear that the changing retail environment made it increasingly difficult for a small, independent company to compete and meet customer expectations on price, product delivery and product mix,” said Celia Clancy, CEO of Country Curtains. “Though this was a difficult decision for all.”



The vote to liquidate follows a multi-year effort to either improve operations or identify a buyer. But neither option proved successful, and the board recommended in September that the company pursue an orderly closure.



Liquidating the company in an orderly fashion will allow Country Curtains to preserve value for all of its shareholders, including current and former employees who participate in the ESOP (employee stock ownership plan). Forty percent of the company is owned by current and former employees who participate in the plan.



Most employees will maintain a role in the company for the next two months, supporting the liquidation process. Eligible employees will be offered severance packages and other transition support. The company has pledged to support headquarters employees in identifying new opportunities within its home base in the Berkshires region of Massachusetts.



“I wish you could all know how our board and senior leadership worked for a different ending,” stated board chair Nancy Fitzpatrick, whose parents founded the company. “Still, we had nearly 60 years of splendid success thanks to every one of our employees, but most importantly, to our loyal customers."



In a heartfelt blog on the company's website, Fitzpatrick wrote that the challenges "of a company like ours being able to compete in the current online, retail and manufacturing environment have been enormous."