CEO DATELINE - Electronic Retailing Association ceases operations
CEO DATELINE - Electronic Retailing Association ceases operations
- June 1, 2018 |
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Walt Williams
Group cites financial difficulties for decision
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The Electronic Retailing Association ceased operations Friday as a result of financial difficulties, Executive Vice President Bill Sheehan said in an email sent to members and others.
ERA had not publicly disclosed the shutdown on its website or social media as of Friday morning. The $4.5 million-revenue group was launched in 1990 as the National Infomercial Marketing Association. ERA is based in McLean, Va., and listed 12 staff on its website, with at least three employees hired since the beginning of the year.
"The board of directors of the Electronic Retailing Association (ERA) has been contemplating the future direction of the association and despite having just completed one of the most successful Washington D.C. fly-ins in recent history, the association cannot continue operating in the face of declining dues receipts, fewer sponsorships and an overall shortage of revenue coupled with burdensome expenses," Sheehan said in the email.
The board unanimously voted to shut down operations on Friday, he said.
"This outcome is certainly not what the board of directors had desired," Sheehan said. "The financial predicament that the association is experiencing cannot be sustained, and it is with regret that the association bids you farewell."
Sheehan joined ERA in 2017 after having previously worked at the National Confectioners Association as vice president of communications. He managed the group following the departure of Chris Reinmuth, a former industry executive who had previously been chairman of ERA's board. Reinmuth was president and CEO of ERA for little more than a year.
ERA announced in 2016 that association management firm MCI USA would run its day-to-day operations. The association remained active up until Thursday and unveiled a revamped digital product May 17.
Read more in the June 8 issue of CEO Update.
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