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Owners Make It Official, Discount Madness To Close Later This Year

Jul 16, 2019 06:21PM ● By Bill Gilman
After months of speculation and rumors, the owners of Discount Madness have made it official -- the Route 38 store will close its doors for good later this year.
In a letter released to the media and posted on social media Tuesday, co-owner Brad Cerullo said land would be redeveloped with "storefronts and residences." This would be in keeping with Tewksbury's mixed-use zoning for that area of Route 38. In his letter, he said the new project, which would be developed by the family, would include "14 townhouses, 7 apartments, and 5 new commercial business units."
Discount Madness, formerly known as Preferred Distributors, has been a fixture on Main Street since opening in 1979. However, in recent years, it has faced increased competition from Ocean State Job Lots and multiple "dollar" stores that have diluted the market.
Cerullo said no decision has been made as to a closing date. However, he said he wanted to make the announcement in response to coffee shop and Internet chatter.
Don't look for any big "going out of business sale" when a closing date is set. According to Cerullo, the remaining stock will be transferred to the Pelham, NH Discount Madness location.

Below is the complete letter released by the Cerullo Family:

DISCOUNT MADNESS CLOSING ITS TEWKSBURY LOCATION
Building new stores and residences in new development
TEWKSBURY, MA. July 2019 — In response to all of the rumors and speculation circulating around the community, Discount Madness is formally announcing that it is closing its Tewksbury Location later this year.
No date has been set for its final day.
The Cerullo family, owners of Discount Madness since its establishment in 1979 as Preferred Distributors, will be redeveloping the land at 1325 Main Street to build new store fronts and residences. The Cerullo family has not made any prior public statements regarding this new development while waiting for all of the paperwork to be finalized.
The date of the Tewksbury locations closure, and the date the new development will break ground have not been determined yet. Another announcement will be made when more details and dates are determined.
The Cerullo family is not selling the property and plans to develop the new project themselves. They have been a part of the Tewksbury community for many years and are excited about this new venture that the town of Tewksbury has allowed them.
The new development will include 14 townhouses, 7 apartments, and 5 new commercial business units. The Cerullo family does plan to rent out the commercial business units, but is also prepared to occupy those spaces until a renter is found.
The Cerullo family would like to thank the town of Tewksbury for 40 years of business in town as well as this amazing opportunity for their future. The Cerullo family also plans to continue its charity work with Alex’s Lemonade Stand in town, and is already planning the 2020 Lemon Aid for a Cure event.
The Discount Madness Pelham location will remain open and still offers all of the products found in the Tewksbury location, including their giant single serve coffee selection.
The Pelham location is located just over the New Hampshire border, on route 38, 9 miles from the Tewksbury location, at 44 Bridge St. in Pelham.
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