A21 to moving ArtSelect offices to Jacksonville
In order to improve efficiency, A21 Superstock has announced it will consolidate its operations by closing the ArtSelect offices in Fairfield, Iowa and moving its administrative and business support departments to the Superstock’s head offices in Jacksonville, Florida. According to the company’s CFO, Tom Costanza, the merging of the offices should save $1MM per year.
Since acquiring ArtSelect in May, 2006, its main operations have continued in Iowa. While the acquisition nearly doubled A21’s revenue overnight, the combined company has yet to achieve profitability, though margins have improved so far this year.
The office consolidation will also entail some managerial reorganization, though the company has not announced specifics. In announcing the move, CEO John Ferguson said, "Our markets are at an inflection point that is creating significant growth opportunities.”
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