Dec 11, 2012 (St. Louis Post-Dispatch - McClatchy-Tribune Information Services via COMTEX) --
Menards has withdrawn plans to open a store in O'Fallon, Mo., citing the looming fiscal cliff.
The Eau Claire, Wis.-based hardware store planned for months to build a store on 26.5 acres at the southeast corner of Sommers Road and Highway N. The project was set for a public hearing on Dec. 6, but the company withdrew a rezoning request and site plan.
"The concern we have is that economic conditions will worsen," spokesman Jeff Abbott replied in an email. "If they do, investing in new stores is fool hardy."
"Hopefully we are wrong," he continued. "If and when economic conditions improve, and if we survive the fiscal cliff and all that, we will be able to reconsider."
Menards' three other new local stores are moving forward, Abbott wrote in the email. Stores under construction in O'Fallon, Ill., and St. Peters are slated to open in Spring 2013 and a store in Manchester is slated to open later in 2013.
David Woods, O'Fallon's planning and development director, said the chain has not indicated whether it will resume its plans for the site or an alternate location. "We'd still like to work with them," Woods said.
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