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STANDARD BRANDS PAINT CO. ANNOUNCES PLANS TO CLOSE SIX UNPROFITABLE PAINT STORES AND OPEN FIVE NEW PAINT STORES

 STANDARD BRANDS PAINT CO. ANNOUNCES PLANS TO CLOSE SIX
 UNPROFITABLE PAINT STORES AND OPEN FIVE NEW PAINT STORES
 TORRANCE, Calif., April 10 /PRNewswire/ -- Standard Brands Paint Co. (NYSE: SBP) today announced plans to close six unprofitable retail paint stores as part of its strategic repositioning plans.
 Standard Brands will close five paint stores in Southern California including Corona, Cypress, Fullerton, Norwalk and Simi Valley and one in Phoenix on April 12, 1992. "Each of these stores have several other Standard Brands Paint Stores in neighboring locations to serve our customers," stated Richard H. Loeffler, president of Standard Brands Paint Co. "Additionally, it is expected that most of the Standard Brands personnel employed in these stores will be transferred to other Standard Brands Paint Stores as we gear up for the paint season." The company will then be operating 129 paint stores in eight western states.
 Loeffler stated that the company has current plans to open up to five new paint stores in Southern California.
 Standard Brands Paint Co., headquartered in Torrance, is a leading manufacturer, distributor and retailer of paint.
 -0- 4/10/92
 /CONTACT: Craig Walker of Standard Brands Paint Co., 310-214-2411, ext. 2391/
 (SBP) CO: Standard Brands Paint Co. ST: California IN: REA SU:


AL-CH -- LA010 -- 7208 04/10/92 11:55 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
Words:215
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