XS Smith Ending 66 Years in Business This Summer

XS Logo

Citing a difficult economy and the federal government’s more restrictive lending policies, XS Smith, a fourth generation family-owned and operated greenhouse manufacturer, is closing its doors this summer.

“It’s not an easy situation or an easy decision,” says Skip Smith, president of XS. “But we’ve had the slowest spring in the last 40 years. We’re forecasting out, and the industry’s not looking good.”

Smith says they’ve seen many of their customers go bankrupt, including Carolina Nurseries, one of their largest, which closed two years ago. “Most, if not all, my other large customers I talk to say I’m doing the smart thing,” he says. A huge surplus of used greenhouses has also affected his business.

The Dodd-Frank Wall Street Reform and Consumer Protection Act has made borrowing money much more difficult as well, Smith says, saying the law now requires a complete reevaluation of the property when applying for a loan, slowing and complicating the process. “It hasn’t been fun anymore,” Smith says.

 The future of his employees weighs heavily on Smith’s mind. “It’s the biggest concern I have,” he says. “It hurts. Some of them have been with us for 35 years. I’m really worried about them.”

 The final closing of the doors is still six to eight weeks away. “We’re still working in the shop, still moving product, and even taking some orders,” Smith says.

 Smith asks that the people to whom his company owes money “just hang with us a little bit,” saying the company has substantially more assets than liabilities.  They are selling off inventory and equipment. “Our intent is to pay everyone 100 percent and be done,” Smith says.

 

Leave a Reply

One comment on “XS Smith Ending 66 Years in Business This Summer

More From Structures...
Cannabis Structure

August 23, 2016

5 Factors To Consider In Your Cannabis Structure

Along with the size and specs of your greenhouse, it's also important to focus on ventilation, light deprivation, benching, irrigation, and odor control.

Read More
Nexus Dual Atrium at Lucas Greenhouses

August 15, 2016

6 Ways Greenhouse Suppliers Are Partnering With Producers

Greenhouse and equipment manufacturers share how they work with growers to provide customized solutions.

Read More
Cannabis Structure

July 28, 2016

How To Maximize The Efficiency Of Your Cannabis Structure

The up-front costs of creating your cannabis facility may be high, but at least one expert says making the investment now will be well worth it down the road.

Read More
Latest Stories
Cannabis Structure

August 23, 2016

5 Factors To Consider In Your Cannabis Structure

Along with the size and specs of your greenhouse, it's also important to focus on ventilation, light deprivation, benching, irrigation, and odor control.

Read More
Nexus Dual Atrium at Lucas Greenhouses

August 15, 2016

6 Ways Greenhouse Suppliers Are Partnering With Produce…

Greenhouse and equipment manufacturers share how they work with growers to provide customized solutions.

Read More
Cannabis Structure

July 28, 2016

How To Maximize The Efficiency Of Your Cannabis Structu…

The up-front costs of creating your cannabis facility may be high, but at least one expert says making the investment now will be well worth it down the road.

Read More
Floral Greenhouse at Vineland Research Centre

July 20, 2016

Research And Commercialization Unite At The New Vinelan…

The new, pre-scale commercial greenhouse facility at Vineland Research and Innovation Centre in Vineland Station, ON, will help accelerate the commercialization of innovative technologies and products coming out of research.

Read More

July 20, 2016

How To Prevent Greenhouse Heating Leaks

Ethylene from malfunctioning greenhouse heaters can lead to crop injury, while carbon monoxide can lead to worker illness. Know the symptoms and how to check greenhouse heaters to avoid these concerns.

Read More
GrowSpan Screen cap

July 18, 2016

Growers Supply Launches GrowSpan Website With New Conte…

The GrowSpan website will encompass the brand’s entire greenhouse structure line, and allows growers to quickly browse GrowSpan’s product offerings based on structure type.

Read More
Lisa Ruggiers, National Greenhouse Manufacturers Association

June 15, 2016

Meet The New Executive Director Of The National Greenho…

Lisa Ruggiers has been active in NGMA for several years, and will work closely with the group’s officers and board of directors.

Read More
Snow Damage-feature

June 3, 2016

Protect Your Greenhouse From The Worst Disasters

Unexpected problems such as fires, high winds, and heavy snow can quickly cause damage to your structures. But there are ways you can minimize your losses.

Read More

May 17, 2016

Your Best Greenhouse Is Your Best Bet For Growing Veget…

It doesn’t matter if it’s a retrofitted greenhouse or brand new freestanding high tunnel, the type of structure you use for your vegetable growing makes all the difference in the quality of the crop you grow.

Read More
North American greenhouse 1

May 13, 2016

NGMA Update: Meet The New Officers And Directors, And M…

The National Greenhouse Manufacturers Association announced new leadership at its spring meeting, as well as a networking reception to take place at Cultivate’16.

Read More
North American greenhouse 1

April 23, 2016

Light Matters In Greenhouse Structures

The design of your greenhouse structure, in terms of light transmission, can have a powerful impact on your bottom-line profits.

Read More
CSU Greenhouse at Night

April 20, 2016

New Colorado State University Greenhouse Showcases LED …

The university’s new Horticulture Center has all the bells and whistles you would expect in a state-of-the-art greenhouse, plus the latest in LED lighting technology.

Read More
Gotham Greens Atrium Style Greenhouse Chicago

April 18, 2016

Gotham Greens CEO Outlines Queens, Chicago Expansion Pr…

The hydroponic vegetable producer recently opened its third and fourth rooftop greenhouses, expanding to Chicago and Queens, NY. CEO Viraj Puri told us about some of the challenges and rewards of building greenhouses on rooftops.

Read More
Natural Ventilation In A Venlo type greenhouse

April 9, 2016

How To Fine-Tune Your Greenhouse Cooling And Ventilatio…

Like most equipment, greenhouse components and machinery must be serviced regularly to keep them in good working order.

Read More
Harmony 5747 FR Diffused Light Climate Screen (Ludvig Svensson) Feature

April 8, 2016

New Coverings Help Improve Light Diffusion In The Green…

Coverings suppliers are developing new materials designed to enhance light transmission, which can help improve energy efficiency.

Read More
Ovaltech (Harnois Greenhouses) Feature Image

April 4, 2016

The Latest Developments In Greenhouse Structures

Manufacturers are focused more than ever on flexibility, temperature management, and economic savings.

Read More
Growers Supply Workshop

April 1, 2016

Growers Supply Hosting Two Workshops On Controlled Envi…

The April and May workshops will cover the latest trends in new and innovative growing techniques, such as hydroponics, aquaponics, and microgreen production.

Read More
NGMA Spring meeting 2016

March 16, 2016

NGMA Spring Meeting Agenda Features Focus On Cannabis, …

Register now for the National Greenhouse Manufacturers Association’s Spring Meeting, which takes place April 10-12 in Tucson, AZ.

Read More
[gravityform id="35" title="false" description="false"]