Nashville, Tenn.-based LifeWay Christian Resources is planning to scale back its fleet of stores, according to an internal email.
The company has not announced the number or locations of stores slated to shutter, but cited “an accelerated rate of erosion” to its brick-and-mortar fleet in recent months that has resulted in the decision.
According to Kentucky Today, the company’s brick-and-mortar operating costs exceeded its sales by $35.5 million in 2017. The company has not yet released its 2018 financial results.
President Thom Rainier wrote in the email that the company will instead shift more of its resources toward a “dynamic digital strategy.”