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A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
Lowes Foods had 56 stores, few in the area served by Byrd's. The Byrd's stores became Lowes Foods stores. [5] [6] In 2000, Delhaize America had to sell 38 Hannaford stores to satisfy antitrust concerns. Lowes Foods bought 12 of these, six (plus one under construction) in the Research Triangle region and six along the North Carolina coast. [7]
The company opened its second store in Sparta, North Carolina, in 1949. [13] In 1952, Buchan became the sole owner of Lowe's, and the company was incorporated as Lowe's North Wilkesboro Hardware. In 1954, Jim Lowe started the Lowes Foods grocery store chain. [14] In 1960, Buchan died of a heart attack at age 44. [15]
Walmart operates a worldwide chain of discount department stores, grocery stores and big box stores. Founded in 1962, Walmart has grown to become the largest retailer in the world, with over ...