Lennox To Close Four Service Experts Businesses
March 1, 2004
Lennox International announced it would close four Service Experts service centers that didn't fit the original business strategy. They were primarily focused on longer-term commercial new construction contracts, and had a combined operating loss of $4 million in 2003. Overall, Service Experts sales declined 1 percent in 2003; margins continued to shrink and labor inefficiencies further reduced profitability.