Aug
11

No Lowe’s for Georgetown

By
Company backs out of new store for second time

August 11, 2008

By Kelly Marshall Fuller – The Sun News

For a second time in the past four years, Lowe’s Home Improvement Warehouse has cited a weak economy as a reason for withdrawing plans to build a store in Georgetown, city officials confirmed this weekend.

The economy has delayed new store openings across the country, the store’s Web site reported. The chain considered building in Georgetown in 2004, but backed away then, too, because of concerns about the local economy.

Georgetown City Councilman Jack Scoville said Richard Smith, acting attorney for the potential real estate transaction in Georgetown, confirmed Lowe’s is not coming.

The housing-market slowdown prompted the chain to change plans, Scoville said, though he does not know if the city will continue with plans to annex the 28-acre property on North Fraser Street where Lowe’s had planned to build.

Property owners asked for the annexation, he said, and now it is unclear whether they will withdraw that request.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.myrtlebeachonline.com/news/local/story/550091.html
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