Impact Thrift to sell stores in Lower Southampton, Montgomery Township and Norristown

By

6 Comments Jun 15, 2017

Impact Thrift Stores will sell its three stores in Lower Southampton, Montgomery Township and Norristown.

The new owner will be Heaven’s Treasures Thrift & Value Stores LLC of Wilmington, Delaware, which in February acquired Impact’s stores in Hatboro and Bristol Township. Heaven’s Treasures plans to keep all of Impact’s employees at their current pay and benefits. Tom Tillett, chairman of Impact’s board of directors, said the stores had been successful and profitable until the past year or so, when — like many in the retail industry — it began to see a decline in sales.

“I think everyone today in the retail market is having to make changes to adapt to this changing environment,” he said. “Fortunately for us, we had an outcome that didn’t lead to the outcome the other stores have gone to, where they’ve gone into bankruptcy and gone out of business. This was an outcome we thought was a win-win. I’m delighted we had an opportunity to work with (Heaven’s Treasures CEO James Jones) to achieve this.”

Tillett said it was important to Impact that its employees — many of whom would have difficulty finding jobs elsewhere because of criminal records or other issues — retained employment. It was also important to continue to support nonprofits, as Heaven’s Treasures will do, he said. Tillett said Impact Thrift would be dissolved after the sale. Financial details were not disclosed. Jones, a former banking executive who previously served as Impact Thrift’s chief financial officer, said buying all of Impact’s stores wasn’t part of the discussion when he bought the two smaller stores earlier this year. But Impact struggled with profitability even after shifting its focus to its three larger stores, Jones said.

“There’s 200 people at Impact in operations and the stores; their jobs were at stake,” Jones said. “I know a lot of these people. I know that there’s a good core of people still at Impact.” The sale is expected to close later this month. Jones said the stores will not close, and will continue to operate under the Impact Thrift name until Heaven’s Treasures signs can be made and installed.

Like Impact, Heaven’s Treasures will donate part of its proceeds to select charities, although unlike Impact, Heaven’s Treasures is a for-profit company. Jones said the charities the stores will support will be announced at a later date, but some will be the same as those to which Impact already donates. When the sale closes, Heaven’s Treasures will make a $25,000 donation to Impact Thrift’s charities, which primarily support children and families. Jones said customers should expect to see an increase in non-clothing items — although clothing will remain an important part of the merchandise mix — as well as an assortment of new items at hefty discounts.

He said he is confident he can return the stores to profitability by focusing on customer experience and value.

“As a former banker, numbers and profitability are near and dear to my heart,” he said. “I think that when you approach it as a business that supports charities, that’s an important distinction. You can’t support the charity if you’re not running it as a business.”

by Crissa Shoemaker DeBree, Bucks County Courier Times



Comments

  • Carla Kempert
    Jun 21, 2017 at 1:54 pm Reply

    #19 of your list of reasons to shop thrift stores indicates that you support local charities. The link, however, goes to a Savers’ page and lists several charities across the country. Can you please tell me what local charities and organizations you support? This was a strong reason for me and my family to support Impact. Thank you!

    1. Rick Rogers
      Jun 27, 2017 at 1:52 pm Reply

      We will be supporting the following charities:
      Chosen 300
      Choice One
      Chariots of Hope

      This is waiting for State approval which should happen soon.

      You will be able to designate what charity you want to support when you drop off donations. You will also receive a tax receipt.

  • executive job search
    Jun 25, 2017 at 2:16 pm Reply

    hello there and thank you for your information – I’ve definitely picked up something new from right here. I did however expertise a few technical issues using this website, since I experienced to reload the website many times previous to I could get it to load properly. I had been wondering if your web hosting is OK? Not that I am complaining, but sluggish loading instances times will often affect your placement in google and could damage your quality score if advertising and marketing with Adwords. Anyway I’m adding this RSS to my email and can look out for much more of your respective intriguing content. Make sure you update this again very soon.

  • articles on healthy living
    Jul 5, 2017 at 10:53 pm Reply

    Wow that was odd. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say superb blog!

  • Lisa mcghee
    Aug 16, 2017 at 7:47 pm Reply

    Hi my name is Lisa McGhee and I recently moved to Somerton. I went in the store in Trevose and was amazed. You have a very nice clean set up. Very impressive, my mother and I always went to thrift stores, flea markets, good will etc.. I also noticed you are hiring at some of the stores. I go to night school. But don’t worry I am of age. Lol. I am 37 years old, mother to two teenagers which are girls 16 and 13. My one daughter loved the thrift stores the younger one will not go in.lol thank u for reading this . Hope to talk to you soon! Lisa McGhee

    1. Rick Rogers
      Aug 16, 2017 at 7:52 pm Reply

      Thank you for sharing about your experience at our store in Feasterville. If you are interesting in applying, then ask one of the managers for an application. You can also download a copy from our website. Hope to see your application come through. Thanks

Leave a Reply

Text THRIFT To 21000

For Exclusive Offers