SAN JOSE, Calif. — PW Markets here is continuing to operate five of the seven stores it leases but is looking to sublet as many of them as possible to other retailers, the company's real estate representative told SN Friday.
One of the seven stores closed late last year and another closed during the first quarter of 2010, John Machado, senior vice president in the local offices of Colliers International, Seattle, told SN. One of those — a 17,000-square-foot unit here — has already been sublet to Auto Zone, while the company is seeking a sublessee for a 51,000-square-foot store in Livermore, he noted.
The five operating PW stores range in size from 25,000 square feet to 51,000 square feet.
PW was founded in 1943 by Joey and Florence Franc, who died in 2003 and 2002, respectively; the company is owned by their two daughters, who are both active in PW management.
Company representatives could not be reached for comment. However, published reports said the chain has been hurt by increasing competition from non-unionized operators.