Hallmark’s Hallmark Channel Islands to close 21% of outlets by the end of 2020
The Hallmark channel Islands will close 21 percent of its outlets by 2020.
That is a total of 10,000 outlets, a significant loss for a media company that has already lost nearly one-third of its total staff.
It also means that the channel will no longer be the only source for news and information in the Islands.
“We have always been in business to entertain and connect with our community,” Hallmark CEO Bill Foye said in a statement.
“This is the right thing to do.
We have no other choice.”
Hallmark has more than 30 outlets across the Islands, from restaurants and stores to retail and entertainment.
The company is already reeling from the loss of its biggest customer in the US: Macy’s.
Macy’s has more outlets in the islands than anywhere else in the United States, including the UK, France, Italy, Germany and Japan.
It employs more than 300 people in the region.
As a result, Macy’s is set to lose up to 800 jobs, according to The Wall Street Journal.
The news of the layoffs follows the departure of Hallmark President and CEO Jeff Dolan earlier this month.