Lumber Liquidators is leaving Toano and moving its corporate headquarters to Richmond.
The hardwood flooring specialty retailer, which has about 400 locations, announced Tuesday that it will relocate to Richmond, according to a press release. The company did not say where it will locate its Richmond offices, but the company expects a lease to commence on or about Oct. 1.
Lumber Liquidators currently leases about 315,000 square feet just north of Andersons Corner in Toano. The facility is used as office and warehouse space as well as for production, and it has served as the company’s headquarters since 2004.
Their Toano lease expires at the end of this year.
“The Toano/Williamsburg community has been a very supportive home for Lumber Liquidators during our 15 years here, and we will miss the community as we move a few miles west,” CEO Dennis Knowles said. “We look forward to expanding our presence in the city of Richmond and Henrico County, and benefitting from bringing the corporate team together in one location. We are excited about the future of the company and the benefits that these changes will bring to our shareholders and our employees. We, as always, remain focused on our customers throughout the buying process from inspiration to installation.”
The move comes after Lumber Liquidators conducted a comprehensive internal review of its Bellawood product finishing line. As a result, the company decided to exit the operation of its finishing lines and focus on core competencies, including merchandising, retail operations and the customer experience, according to the release.
On July 26, Lumber Liquidators entered into a purchase agreement for roughly $1.8 million to sell the finishing line and related equipment to an unidentified third party.
The purchaser will sell finished products to Lumber Liquidators and will make about 25 percent of the production of the Toano facility.
“With a growing business and new leadership team focused on product innovation, core retail operations and the customer experience, it is the right time for us to relocate to a smaller facility in a metropolitan environment,” Knowles said.
About 45 people are employed in the Bellawood finishing line.
