Syracuse, NY--Oneida Ltd. today said it will close its remaining 20 retail outlet stores in North America.



The company that imports and sells flatware to the retail and food service industry said it plans to reopen two stores, in Sherrill and Niagara Falls, Canada, later this year.



Oneida continues to operate its Foodservice, International and Consumer Wholesale divisions, as well as units of its Consumer Direct business, and its European outlet store network.

The company has hired Gordon Brothers Group to manage the closing sales expected to begin Friday and the group's realty arm DJM Realty to dispose of the store leases.

"Despite the numerous steps we've taken to streamline and improve the operations of the outlet stores, today's difficult retail environment leaves us no choice but to exit this business as it continues to be dilutive to our company's free cash flow and earnings," said James Joseph, Oneida's president and chief executive officer.

The company intends to use the money currently allocated to the retail stores to for its global food service initiative, Internet fulfillment business and to pursue worldwide licensing opportunities, he said.