The Boston Globe, January 4th, 1998
Last year saw the disappearance of a New England retailing institution, and the story of its demise may have implications for the entire retail industry. The local landmark that closed was Lechmere, which sold TV sets and stereos to a generation of baby boomers. While several factors led to Lechmere's fall, one was this: There were too many stores for too few consumers. Too many stores may explain why the industry is undergoing closings and consolidations and why holiday sales for many were disappointing for the third straight year. Nevertheless, a surplus of stores does not seem to be deterri...
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