Tech For Less consolidating to single Springs warehouse
Tech For Less has begun a warehouse consolidation sale to liquidate merchandise from a Colorado Springs warehouse that it plans to close by the end of March.
The consolidation into the Tech for Less headquarters at 1610 Garden of the Gods Road and another warehouse owned by parent ModusLink Global Solutions in Bloomington, Ind., will result in transferring four of the company’s 116 local employees to Indiana, said Farrah Phillipo, a spokeswoman at ModusLink’s Boston area headquarters. The move is designed to take advantage of available space at the Indiana warehouse to “better align capacity with product volumes from clients” and is part of a worldwide consolidation of 25 warehouse operations in 15 countries, she said.
Tech For Less sells surplus new and refurbished computer equipment and consumer electronics online and at a local outlet store.
The consolidation sale began Thursday at the warehouse at 2150 Garden of the Gods Road for brokers and resellers and is open to the public from 9 a.m. to 3:30 p.m. today and Feb. 4, according to an e-mail sent to customers this week. All merchandise is sold as is without warranties and cannot be returned, the company said.
ModusLink bought Tech For Less in 2009 and laid off 43 employees last February as the company was writing down the value of Tech For Less and a similar business it acquired in 2008 by $27.2 million, saying both were “underperforming.” Sales at Tech For Less in the fiscal year ended Oct. 31 fell 17.1 percent to $8.08 million, resulting in a $1.4 million operating loss, according to documents the company filed with the Securities and Exchange Commission.
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