Chicago-based Lawson Products Inc. (NASDAQ: LAWS), No. 27 on MDM’s list of the top 40 industrial distributors, reported second quarter sales of $74.3 million, an 11.7 percent decrease compared to the prior year period. The MRO distributor reported a net loss of $61.2 million, compared to a year-ago profit of $1.1 million.

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For the first six months, sales for Lawson were $150.3 million, 10 percent lower than 2011 levels. Lawson reported a loss of $63 million for the first half, compared to a year-ago profit of $3.1 million.

In June, Lawson announced a strategic restructuring including plans to eliminate 100 positions from its workforce. Lawson expects the following events to occur in the near future as the company continues to focus on its long-term transformation:

·         The transition of its independent agent model to an employee model.

·         The phased launch of a redesigned website, which will be fully integrated and allow orders to be placed directly online.

·         The consolidation of distribution operations currently performed at three separate Illinois locations into a new leased facility in McCook, IL.

Lawson has entered into a new five-year $40 million credit facility to help fund future operations.