FLORENCE, Ky. — A large retail facility is closing its doors permanently in northern Kentucky, joining other facilities that have recently closed as well, resulting in hundreds of lost jobs.

What You Need To Know

  • Wayfair  is closing in Florence after just five years. The closure will affect more than 200 jobs

  • The latest Worker Adjustment and Retraining Notification report shows similar closures in northern Kentucky

  • An NKU economist says people have run through their household savings after the pandemic, and are slowing down their spending

  • She said impacts from the pandemic will last another two to three years

Many have heard the jingle: “Wayfair, you’ve got just what I need!”

While that may be true, it won’t be for long in Florence. The company sent Spectrum News 1 the following statement:

“After careful consideration, we decided not to renew our lease at our Florence, Ky returns center and outlet store. While our Florence site will remain open until the end of 2025, we are working closely with affected employees to assist with job placement at other Wayfair locations and with local employment agencies.”

The closure, after just five years in Florence, will affect more than 200 jobs. The latest Worker Adjustment and Retraining Notification report shows similar closures in northern Kentucky, including Jabil across the street from Wayfair.

Northern Kentucky University economist Janet Harrah spoke about the WARN notice.

“Right now, we’re running about 800 job losses in northern Kentucky, which is a lot. Particularly if you’re one of the people that’s lost that job. But if you put it in the broader context of our entire labor market, which is the Cincinnati metro area, we are up 4,500 jobs so far this year,” Harrah said. “Retail trade is down if you adjust it for inflation, fairly substantially, from this time last year. Overall the economy is slowing, but retail trade in particular has been hard hit.”

Harrah said the number one reason is people have run through their household savings after the pandemic, and are slowing down their spending.

She said effects from the pandemic will last another two to three years.

“I am not surprised to see some of these companies, if not close, really shrink their footprint, to try to reduce their costs,” she said.

Joshua Hunt, Florence Director of Business and Community Development, sent the following statements about Wayfair closing:

“We’re disappointed to see Wayfair leave Florence, but we understand the economic challenges driving this decision. Our priority now is supporting impacted employees and ensuring they have new opportunities in our community… Wayfair’s departure has a short-term impact on our payroll tax revenue, but given the prime location near CVG (Cincinnati/Northern Kentucky International Airport), we’re confident in our ability to work with the owners of the building to quickly bring in a new tenant.”

Harrah said the retail industry sees a lot of turnover irrespective of the economy. But with more Americans shopping online, she said demand for warehouse space will remain high, and she doesn’t expect the Wayfair building to be empty for long.

As for the employees losing their jobs, Harrah said the good news is there are numerous jobs available in the area. She said similar fulfillment facilities in the area are always seeking talent..

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