According to the recent report, Nat Sherman plans to shut down its premium cigar businesses by the end of September 2020.
Nat Sherman has a 90-year history, and it will close not only its wholesale cigar business but also the New York City retail shop as the iconic of company, which well known as the Nat Sherman Townhouse.
In 2017, Altria Group, which purchased Nat Sherman, had attempted to sell the premium cigar business. But despite the initial interest of the buyer, no deal was finally reached.
According to Jessica Pierucki, the general manager and managing director for Nat Sherman, said:
“We worked hard to successfully transition Nat Sherman International to a new home.”
“The Covid-19 pandemic created new challenges that were unfortunately too big to overcome.”
Furthermore, Michael Herklots, the vice president of Nat Sherman International added and said:
“Leading what has become Nat Sherman International’s final chapter these last nine years has been the honor of a lifetime.”
“Hopefully, our premium cigars will live on in the humidors of our greatest fans and be appreciated with fond memories for many years to come.”
Nat Sherman International includes the retail store, also the wholesale premium cigar, and pipe company. Because a different Altria division handles the cigarette portfolio, therefore, it will not be affected by the closure decision.
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