Amazon shuts down online store Fabric com in move to cut costs Amazon HEAD TOPICS

Amazon shuts down online store Fabric com in move to cut costs

10/22/2022 1:20:00 AM

Retail giant has also closed other business lines and frozen corporate hiring amid slowing growth

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Amazon is shutting down a subsidiary that's been selling fabrics for nearly 30 years, the latest move by the online retail giant to cut costs. Retail giant has also closed other business lines and frozen corporate hiring amid slowing growth / APAmazon is shutting down a subsidiary that's been selling fabrics for nearly 30 years, the latest move by the online retail giant to cut costs.In a note posted on its website, Fabric.com said it will no longer sell products and directed customers to shop on Amazon instead. Thursday was the last day customers can place orders on the fabric site. "As part of our regular business planning, we continually evaluate the progress and potential of our offerings and have made the decision to close Fabric.com," Amazon spokesperson Betsy Harden said in a prepared statement.It's unclear how many employees will be impacted by the closure. Harden said Amazon will work with staff to help them"identify other opportunities" at the company, including at nearby warehouses. Employees who do not stay with Amazon will be given severance, she said. Read more:
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In a note posted on its website, Fabric.com said it will no longer sell products and directed customers to shop on Amazon instead. The 28-story residential building along Market Street near the Henry B. Thursday was the last day customers can place orders on the fabric site. The project consists of 196 apartments and 31,000 square feet of ground-floor retail, according to JLL Capital Markets brokers Brandon Roth, Spencer Bergthold and Elijah Lax, who arranged the construction financing. "As part of our regular business planning, we continually evaluate the progress and potential of our offerings and have made the decision to close Fabric. That 351-foot building and the adjacent three-story building would have about 56,000 square feet of retail space combined, providing a major injection of stores downtown .com," Amazon spokesperson Betsy Harden said in a prepared statement. It's unclear how many employees will be impacted by the closure. Tenants could walk out the door to Civic Park, a nine-acre public park that’s under construction . The Martin Group, Sansome Pacific Properties and STARS REI are the primary developers of the project The five-story building will be constructed at 1188 East 14th St. Harden said Amazon will work with staff to help them"identify other opportunities" at the company, including at nearby warehouses. Employees who do not stay with Amazon will be given severance, she said. Some said the designs do not reflect the unique culture and history of San Antonio, obscure other buildings and are not pedestrian-friendly. News of the closure was first reported by the Craft Industry Alliance. Some units will include large patios and balconies. 05:23 Cutting costs amid economic concerns Georgia-based Fabric. Others praised the designs and said the project would enhance downtown, add needed residential density and help to revive the site of the 1968 World’s Fair. com was founded in 1993 under the name Phoenix Textiles Group. It operated as a wholesale distributor of apparel fabrics for several years before it launched its own website and began selling items directly to consumers. Concerns about pedestrian safety were also raised, with the proximity of buildings to the street and the busy multiple lanes visitors would have to cross to get there. Amazon acquired the company in 2008. At the time, it said it would help the fabric site expand its selection of items and allow Amazon to offer its customers more sewing and crafting supplies. Renderings show a residential tower and retail building at Hemisfair downtown. The closure of the business comes as Amazon is attempting to cut costs amid worries about the wider economic environment and sluggish online sales. In recent months, it has shuttered its hybrid virtual, in-home care service Amazon Care, implemented a hiring freeze on the corporate side of its retail business and axed some of its other projects. The amendment failed. Trending News .